What you need to know before the open – 16/01
European markets are expected to open a shade higher this morning, after yesterday's five-and-a-half-year high.
US inflation numbers are out later today and are predicted to show that prices rose in December – following in the footsteps of yesterday's increased PPI figures. Yesterday's Beige Book survey also reinforced a continued pick up in the economy.
Over in Asia, the Nikkei crept down – demolishing earlier gains as traders await further US data.
German inflation increased 1.4 per cent year-on-year in December, according to data out this morning – a smidgen up from November's 1.3 per cent year-on-year rise.
This means that the annual average rate was 1.5 per cent for the whole of 2013 – down from two per cent in 2012 and the lowest rate in 2010.
Key events:
- EU European Central Bank monthly report at 9.00am.
- EU CPI for December at 10.00am. Expected at 0.8 per cent from 0.9 per cent.
- US CPI for December at 1.30pm. Expected at 1.5 per cent from 1.2 per cent.
- US initial jobless claims (4 January) at 1.30pm. Expected at 326,000 from 330,000.
- US continuing jobless claims at 1.30pm. Expected at 2.8m from 2.9m.
- US long-term TIC flows for November at 2.00pm.
- US NAHB housing market index for January at 3.00pm. Expected unchanged at 58.
- US Philadelphia Fed manufacturing survey for December at 3.00pm. Expected at 8.7 from 7.0.