Economic calendar: US data and inflation in Europe

Flash CPI in Germany is the highlight of the European session
ISM services, claims in the US are the figures of the day
Market focus on policy tightening after hawkish FOMC minutes yesterday

Today’s calendar is a bit of a breather between yesterday’s ADP and FOMC minutes and tomorrow’s NFP. However, traders will waste no time in debating the impact of suddenly oh-so hawkish Fed on the markets. Because the pace of expected tightening seems to be taking markets by surprise the focus can be on weekly claims – the data’s been the strongest in more than 50 years!

9:30 am (GMT) – UK – final December services PMI (consensus 53.2 points)

10:00 am – EMU – November PPI (consensus 23%)

12:30 am – US – December Challenger report (planned job cuts)

1:00 pm – Germany – December CPI (consensus 5.1% y/y)

1:30 pm – US – November trade balance (consensus -$69.9 bilion), initial claims (consensus 200k)

3:00 pm – US – December ISM services (consensus 66.9 points), November durable orders (consensus +2.5% m/m)

12 December 2025, 7:05 AM

BREAKING: UK GDP and manufacturing lower than expected 📉Final German CPI in line with expectations

12 December 2025, 6:54 AM

Morning wrap (12.12.2025)

11 December 2025, 3:10 PM

BREAKING: US wholesale sales lower than expected

11 December 2025, 1:33 PM

BREAKING: US jobless claims above expectations🗽

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Economic calendar: US data and inflation in Europe

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