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Economic calendar (GMT0):
(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)
09:30 United Kingdom Average Earnings, 3m/y October +1.0% +1.3% +1.4%
09:30 United Kingdom Average earnings ex bonuses, 3 m/y October +1.2% +1.6% +1.6%
09:30 United Kingdom ILO Unemployment Rate October 6.0% 5.9% 6.0%
09:30 United Kingdom Claimant count November -25.1 Revised From -20.4 -19.8 -26.9
09:30 United Kingdom Claimant Count Rate October 2.8% 2.7%
09:30 United Kingdom Bank of England Minutes
10:00 Eurozone Harmonized CPI November 0.0% -0.2% -0.2%
10:00 Eurozone Harmonized CPI, Y/Y (Finally) November +0.3% +0.3% +0.3%
10:00 Eurozone Harmonized CPI ex EFAT, Y/Y November +0.7% +0.7% +0.7%
10:00 Switzerland Credit Suisse ZEW Survey (Expectations) December -7.6 -4.9
The U.S. dollar traded mixed against the most major currencies ahead of the U.S. consumer inflation data and Fed's interest rate decision. The U.S. consumer price inflation is expected to decline 0.1% in November, after a flat reading in October.
The U.S. consumer price index excluding food and energy is expected to rise 0.1% in November, after a 0.2% gain in October.
The Fed will release its interest rate decision. Investors expect that the Fed will keep its low interest rate for a longer period. They are awaiting new signs for further monetary policy in the U.S.
The euro declined against the U.S. dollar after the consumer inflation data from the Eurozone. Eurozone's consumer price index dropped 0.2% in November, in line with expectations, after a flat reading in October.
On a yearly basis, Eurozone's consumer price inflation remained unchanged at 0.3% in November, in line with expectations.
Eurozone's consumer price inflation excluding food, energy, alcohol and tobacco remained unchanged at an annual rate of 0.7% in November, in line with expectations.
The British pound traded mixed against the U.S. dollar after the solid labour market data from the U.K. The U.K. unemployment rate remained uncaged at 6.0% in the August to October quarter, missing expectations for a decline to 5.9%.
The claimant count decreased by 26,900 people in November, exceeding expectations for a drop of 19,800 people, after a decrease of 25,100 people in October. October's figure was revised from a decline of 20,400.
Average weekly earnings, excluding bonuses, climbed by 1.6% in the August to October period, in line with expectations, up from a revised 1.2% rise in the previous three months.
Average weekly earnings, including bonuses, rose by 1.4% in the August to October period, beating expectations for a gain to 1.3%, after a 1.0% increase in the previous three months.
That was the first time for six years that earnings growth (both measures) has exceeded the inflation rate. The U.K. consumer price index declined to an annual rate of 1.0% in November from 1.3% in October.
The Bank of England (BoE) released its last meeting minutes. The BoE kept its monetary policy unchanged. Two members, Ian McCafferty and Martin Weale, voted for the fifth consecutive month to raise interest rates to 0.75% from 0.5%. The MPC members want to see further increases in wage growth before to raise interest rates.
The Canadian dollar traded mixed against the U.S. dollar ahead of the Canadian wholesale sales. Wholesale sales in Canada are expected to climb 0.9% in October, after a 1.8% rise in September.
The Swiss franc traded lower against the U.S. dollar despite the positive survey by the ZEW Institute and Credit Suisse Group. A survey by the ZEW Institute and Credit Suisse Group showed today that Switzerland's economic sentiment index rose to -4.9 points in December from -7.6 points in November.
EUR/USD: the currency pair fell to $1.2445
GBP/USD: the currency pair traded mixed
USD/JPY: the currency pair traded mixed
The most important news that are expected (GMT0):
13:30 Canada Wholesale Sales, m/m October +1.8% +0.9%
13:30 U.S. Current account, bln Quarter III -99 -98
13:30 U.S. CPI, m/m November 0.0% -0.1%
13:30 U.S. CPI, Y/Y November +1.7%
13:30 U.S. CPI excluding food and energy, m/m November +0.2% +0.1%
13:30 U.S. CPI excluding food and energy, Y/Y November +1.8%
14:00 Switzerland SNB Quarterly Bulletin
19:00 U.S. FOMC Economic Projections
19:00 U.S. FOMC Statement
19:00 U.S. Fed Interest Rate Decision 0.25% 0.25%
19:30 U.S. Federal Reserve Press Conference
21:45 New Zealand GDP q/q Quarter III +0.7% +0.7%
21:45 New Zealand GDP q/q Quarter III +3.9% +3.3%
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