Economic calendar: US labor data - ADP report in the spotlight 🔎

• German and French CPI Data
• Final Service PMI Data Significant
• US Labor Market Data

Today's calendar is filled with several significant macroeconomic publications. Chronologically, investors will first get to know the inflation data from Germany and France, as well as other EU countries. The data from both countries are expected to show an annual CPI increase compared to November. Then, between 8:00 AM and 9:00 AM GMT, the final service PMI data for Europe will be released. Analyst expectations indicate weaker data, especially for France where the index is expected to be only 44.3 points. The UK's service PMI data, however, is expected to be much better, with the consensus indicating a solid result of 52.7.

Later in the day, investors' attention will shift to the USA. First, a series of labor market data will be revealed. The consensus for the ADP report indicates the continuation of good US labor market data and further stabilization.

Detailed Calendar for the Day:

• 7:45 AM GMT, France - December CPI Data:

  • Expectations: 3.8% YoY; previously 3.5% YoY

• 8:50 AM GMT, France - Service PMI for December; expectations 44.3; previously 45.4

• 8:55 AM GMT, Germany - Service PMI for December; expectations 48.4; previously 49.6

• 9:00 AM GMT, Eurozone - Service PMI for December; expectations 48.1; previously 48.7

• 9:30 AM GMT, UK - Service PMI for December; expectations 52.7; previously 50.9

• 1:00 PM GMT, Germany - December CPI Data:

  • Expectations: 3.7% YoY; previously 3.2% YoY

• 1:15 PM GMT, USA - December Labor Market Report, ADP:

  • Expectations: 115k; previously 103k

• 2:45 PM GMT, USA - Service PMI for December; expectations 51.3; previously 50.8