In the US, the PCE price index will provide further insights into the Federal Reserve’s rate path. A slew of earnings results will provide more insight into how corporate America performed against macro headwinds. The UK will publish the final estimate of third-quarter GDP, current account, public sector net borrowing, and the CBI gauges for industrial trends orders and distributive trades.
The Eurozone flash consumer confidence is expected to improve for the second consecutive month in December but still remain below its long-term average. The Bank of England expects the economy to contract by 0.75% in the second half of 2022 and continue to fall in 2023 and the first half of 2024. In Asia, the People’s Bank of China will meet to decide on its loan prime rate after leaving it unchanged for three consecutive meetings.
Investors also anticipate the CPI figures for Singapore, Malaysia, and Japan as well as the central bank of Indonesia’s monetary policy decision. The RBA in Australia will make the minutes of its most recent meeting public in order to shed light on the bank’s third consecutive 25 bps rate increase. Trade data for November and business confidence indicators for December will be the main topics of discussion in New Zealand.