Global Economic Calendar – UK and US News Dominate a Busy Day

Beginning the economic agenda, we have the WestPac Consumer Sentiment which was expected to decline as a response to the economy but it in fact showed a better than expected rise of 0.1%. Then we have some more UK news with the employment report expected to show a value of 4.8% followed by the German CPI which is expected to come in at 1.7% YoY. Then we have the eurozone December CPI which is expected at 1.1% YoY.

Then towards the later part of the day, we have the rate decision from the BOC which is expected to keep the rates unchanged. Then we have the CPI date and the industrial production data from the US and finally, we have the oil market report from the OPEC to round off a busy day of economic news. This report assumes special significance as the oil production agreement is under implementation now and the market would like to know how it is progressing.