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Friday preview: Single currency, euro area economic data in focus

By Oliver Haill

Date: Thursday 28 Dec 2017

LONDON (ShareCast) - (ShareCast News) - The Friday after Christmas is expected to remain quiet in London, with little left on the corporate and economic calendar that might rouse traders from their festive stupor.
No major UK company updates are scheduled, with the stock market closing at 1230 GMT and equity investors not expecting much until the following week when the first trading updates are due from the retail sector for this crucial shopping period. European and US bourses will trade their normal hours on Friday.

On the economic side of things, German inflation figures for December on Friday are expected to show a moderation to a harmonised rate of consumer prices of 1.4% year-on-year from 1.8% in the month before, having broken above 2% in February and sunk to 1.5% in October.

November's bounce was primarily driven by energy prices and so economists at Danske Bank expect inflation to moderate again to 1.6% in December, ahead of the Eurozone inflation figures due for release on 5 January.

"Overall, we expect headline [euro area] inflation to remain in the range of 1.1-1.4% y/y on a monthly basis throughout 2018, as long as underlying inflation pressure remain muted."

Euro area money supply figures for November are also due out.

Normally, neither of those reports would be expected to have much of an impact on financial markets, but given holiday-thinned trading volumes, the single currency could conceivably get one final boost ahead of the end of the year.

Friday December 29

Import Price Index (GER) (06:00)
M3 Money Supply (EU) (08:00)

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