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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
07:00 Germany CPI, m/m (Finally) November 0.0% 0.1% 0.1%
07:00 Germany CPI, y/y (Finally) November 0.3% 0.4% 0.4%
09:30 United Kingdom Consumer Inflation Expectations 2% 2.0%
10:15 Eurozone Targeted LTRO 15.5 18.3
The U.S. dollar traded mixed against the most major currencies ahead the release of the U.S. economic data. The U.S. retail sales are expected to rise 0.3% in November, after a 0.1% gain in October.
Retail sales excluding automobiles are expected to increase 0.3% in November, after a 0.2% rise in October.
The U.S. PPI is expected to be flat in November, after a 0.4% drop in October.
The U.S. producer price inflation excluding food and energy is expected to rise 0.1% in November, after a 0.3 fall in October.
The preliminary Thomson Reuters/University of Michigan consumer sentiment index is expected to rise to 92.0 in December from a final reading of 91.3 in November.
The euro traded higher against the U.S. dollar after the release of the economic data from the Eurozone. Destatis released its final consumer price data for Germany on Friday. German final consumer price index were up 0.1% in November, in line with the preliminary estimate, after a flat reading in October.
On a yearly basis, German final consumer price index rose to 0.4% in November from 0.3% in October, in line with the preliminary estimate.
The increase was partly driven by a slower decline in energy prices and higher food prices, which dropped 7.5% year-on-year in November, while food prices climbed 2.3%.
Consumer prices excluding energy increased 1.3% year-on-year in November.
The Bank of France released its current account data on Friday. France's current account deficit was €1.4 billion in October, down from a surplus of €0.3 billion in September. September's figure was revised down from a surplus of €0.5 billion.
The British pound traded mixed against the U.S. dollar. The Office for National Statistics (ONS) released its construction output data for the U.K. on Friday. Construction output in the U.K. rose 0.2% in October, after a 0.2% drop in September.
New housing activity jumped 1.5% in October, while all new work rose 1.2%.
Repair and maintenance work slid 1.5% in October.
On a yearly basis, construction output climbed 1.0% in October, after a 0.3% decrease in September.
The Bank of England (BoE) released its quarterly survey on Friday. Consumer inflation expectations for the coming year in the UK remained unchanged at 2.0% in December.
Inflation expectations for coming two years in the U.K. climbed to 2.9% in December from 2.8% in August.
The consumer price inflation in the U.K. was -0.1% in October, below the central bank's 2% target.
EUR/USD: the currency pair rose to $1.0977
GBP/USD: the currency pair declined to $1.5110
USD/JPY: the currency pair decreased to Y121.28
The most important news that are expected (GMT0):
13:30 U.S. Retail sales November 0.1% 0.3%
13:30 U.S. Retail Sales YoY November 1.7%
13:30 U.S. Retail sales excluding auto November 0.2% 0.3%
13:30 U.S. PPI excluding food and energy, m/m November -0.3% 0.1%
13:30 U.S. PPI excluding food and energy, Y/Y November 0.1% 0.2%
13:30 U.S. PPI, m/m November -0.4% 0%
13:30 U.S. PPI, y/y November -1.6% -1.4%
15:00 U.S. Business inventories October 0.3% 0.1%
15:00 U.S. Reuters/Michigan Consumer Sentiment Index (Preliminary) December 91.3 92
15:35 United Kingdom MPC Member Weale Speaks