Euro unemployment for November is estimated to have declined to 8.7% from 8.8% in October, suggests the research team at Danske Bank.
“It would be the lowest level since 2009 and below the long-term average. However, it is still above the EU Commission's estimate for long-term unemployment at 8.4% for 2018.”
“The US is due to release NFIB small business optimism index around noon. It continues to be at very strong levels -boosted partly by the expectation of a US corporate tax cut.”
“Chinese inflation numbers will be released overnight. We expect an increase in the CPI inflation from 1.7% to 1.9% - still far below the 3% target. PPI inflation should drop back to 4.8% y/y from 5.8% y/y due to base effects from a very strong m/m November increase in 2016.”
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