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Yesterday, Eurozone Inflation figures surprised onlookers, as figures revealed 1.1%, its highest in over three years. With November’s marker of 0.6% a higher price in energy, consumer consumption and tobacco sectors were seen as the driver. Mario Draghi has longed for inflation to be at 2% and his target of 2018-19 could be beaten if prices continue to rise at pace. There were fears that the EU could move into deflation, and weaken economic growth, but this most recent release could strengthen the Euro moving forward, unless the numbers are short lived.
UK data excels at start of January
UK data continued to excel at the start of January, with UK construction expanding its sector in December, at the fastest pace in almost a year. PMI numbers were at 54.2 for December, beating the previous months 52.8, yet costs grew with regards to imported inflation.
Sterling’s decline has continued to hit certain sectors in sections, but data so far since Brexit has not dampened investors, nor consumers, yet. This morning, UK Services PMI are out for consumption.
Latest from Federal Reserve minutes and US
The latest Federal Reserve minutes from the US have suggested interest rates could be ‘forced’ to move higher, and faster, than expected if Donald Trump looks to stamp his authority. It is suggested he could cut taxes and embark on an aggressive Fiscal Policy stance, and with some FOMC members as per the latest minutes are sighting uncertainty, interest rate moves are now expected sooner rather later.
Also over in the US, Initial Jobless Claims & Non-manufacturing Composite numbers start this afternoons US opening bell.
