Markets await key U.S. PCE inflation data and Michigan consumer sentiment figures today, following the Fed's hawkish stance on 2025 rate cuts earlier this week. The PCE price index, the Fed's preferred inflation gauge, is expected to show a slight uptick to 2.5% annually, while core PCE is forecast to rise to 2.9%. UK retail sales and German PPI data will provide further insights into price pressures and consumer behavior in Europe.
Economic Releases
07:00 AM GMT, United Kingdom - Retail Sales Data for November:
- Retail Sales YoY - Forecast: 0.8%; Previous: 2.4%
- Retail Sales MoM - Forecast: 0.5%; Previous: -0.7%
- Core Retail Sales YoY - Forecast: 0.7%; Previous: 2.0%
- Core Retail Sales MoM - Forecast: 0.0%; Previous: -0.9%
07:00 AM GMT, United Kingdom - Public Sector Finance Data for November:
- Net Borrowing - Forecast: 15.50B; Previous: 17.35B
- Net Cash Requirement - Previous: 11.133B
07:00 AM GMT, Germany - Producer Price Index Data for November:
- PPI YoY - Forecast: -0.3%; Previous: -1.1%
- PPI MoM - Forecast: 0.3%; Previous: 0.2%
01:30 PM GMT, United States - Personal Income and Spending Data for November:
- Personal Income MoM - Forecast: 0.4%; Previous: 0.6%
- Personal Spending MoM - Forecast: 0.5%; Previous: 0.4%
- PCE Price Index YoY - Forecast: 2.5%; Previous: 2.3%
- PCE Price Index MoM - Forecast: 0.2%; Previous: 0.2%
- Core PCE Price Index YoY - Forecast: 2.9%; Previous: 2.8%
- Core PCE Price Index MoM - Forecast: 0.2%; Previous: 0.3%
- Real Personal Consumption MoM - Previous: 0.1%
01:30 PM GMT, Canada - Retail Sales Data for October:
- Retail Sales MoM - Forecast: 0.7%; Previous: 0.4%
- Core Retail Sales MoM - Forecast: 0.2%; Previous: 0.9%
03:00 PM GMT, United States - University of Michigan Consumer Survey for December:
- Consumer Sentiment - Forecast: 74.0; Previous: 71.8
- Consumer Expectations - Forecast: 71.6; Previous: 76.9
- Current Conditions - Forecast: 77.7; Previous: 63.9
- 1-Year Inflation Expectations - Forecast: 2.9%; Previous: 2.6%
- 5-Year Inflation Expectations - Forecast: 3.1%; Previous: 3.2%
03:30 PM GMT, United States - GDP Data:
- Atlanta Fed GDPNow Q4 - Forecast: 3.2%; Previous: 3.2%
06:00 PM GMT, United States - EIA Data:
- Previous: 8.5K
08:30 PM GMT, United States - CFTC Speculative Net Positions
Central Bank Speakers
- 12:30 GMT - Fed's Mary Daly speaks on economic outlook and monetary policy. Key focus will be on any elaboration of the Fed's projected rate path for 2025 following Wednesday's hawkish shift
Daily Summary: CPI down, Markets Up
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