Important upcoming events and publications for January, 8 (GMT):
10:00 Germany Industrial production rarely spark a big volatility for EUR. However, recently markets have focused their attention to the region’s data, fearing signs of an unnecessarily abrupt economic cooling. In this case, analysts expect production decline in November by 0.8% y/y.
11:30 U.K. HBOS House Price index is expected to confirm the sharp cooling of the growth to just 0.4% y/y. Weak data can put some pressure on GBP, becoming an additional sign of economic slowdown.
16:30 U.S. Trade Balance is closely monitored by markets, as trade wars are the focus of market participants. The deficit has increased over the past year, but the November data is expected to be slightly reduced from 55.5B to 54.0B. Deviations from expectations can have a short-term impact on the dynamics of USD.
See the detailed Economic calendar here
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