Markets will continue to digest the implications of the preliminary “phase one” U.S.-China trade agreement, the deal on USMCA, last week’s U.K. election results, and other political developments this week.
On the U.S. economic calendar, we’ll get new figures on industrial production and capacity utilization, housing starts & building permits, existing home sales, personal income and spending, revised 3rd quarter GDP numbers, and the final reading for consumer sentiment in December. The consensus forecasts are that U.S. industrial production rebounded 0.8% in November while personal income and spending both rose 0.3% last month. Following the release of China’s industrial production and retail sales data on Monday, other overseas economic releases will include euro zone composite PMI, trade, and inflation, German producer prices, and Japanese trade, along with the latest monetary policy statements from central banks in Japan, England, Sweden, and Mexico. Have a great week!