Economic events of the Week

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Monday: November Retail Sales are due in Spain, following a Year over Year decrease of -0.6%, expectations are low for this one. The other side of the European continent expresses more optimism as December’s Italy Business Confidence is analyst surveyed to indicate a 0.9 point improvement. The day will conclude with the publishing of Consumer Price Indices in Russia.

Tuesday: The day will see mostly U.S. data, namely the publishing of the Chicago Purchasing Managers’ Index and the Consumer Confidence Index.

Wednesday: The first day of 2014 will see the publishing of the official Manufacturing Purchasing Managers' Index in China.

Thursday: The unofficial HSBC/Markit Manufacturing Purchasing Managers’ Index is due and is expected to present a more pessimistic image of Chinese economy with an analyst estimation of 50.5 points vs. the official PMI’s 51.2. The day will also see the publishing of Manufacturing Purchasing Managers’ Indices throughout the Eurozone, namely Italy, France, Germany and the U.K. U.S. Initial Claims, U.S. ISM Manufacturing and ISM Prices Paid are due later that day.

Friday: Europe will draw most of the day’s attention. The busy day will start as the nationwide House prices will be published in the U.K. Analysts expect the figure to be revised upwards from an annual increase of 6.5%, recorded last month, to no less than 7.1% on this month’s figure. Preliminary estimations of the Spanish CPI are also due. More attention will be taken by the U.K. real-estate sector with the publishing of November’s mortgage approvals – analysts expect this figure to continue increasing. Italian Consumer Price Index and Spanish Unemployment will also be published. 

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