LS Focus On The Week Ahead
Week Ahead

6 December 2019

 

All Times GMT

 

Tuesday 10 December

 

UK Oct GDP, Manufacturing Output (09.30)

“For 2019 as a whole we are standing by our prediction that the economy will have grown by 1.3pct, on the basis that slow growth is maintained over the tail end of the year,” Investec said. Consensus: GDP Y/Y 0.7pct (prev 0.9pct); Manufacturing Output M/M 0.0pct (-0.4pct).

 

German ZEW Economic Sentiment (10.00)

As of Friday, economists expected an upturn, but that day Germany reported an unexpected decline in industrial production, which might hurt investor morale and push the forward-looking headline number lower. The ZEW data should take a cue from Monday’s release of the latest Sentix investors poll. Consensus: Economic Sentiment 0.0 (prev -2.1)

 

Wednesday 11 December

 

US FOMC Rate Decision (19.00)

Friday’s surprisingly high non-farm payroll for November and the upward revision for October will likely solidify the wait-and-see attitude at the US central bank. Jon Hill, vice-president for US rates strategy at BMO Capital Markets, said: “That the Fed's not cutting in December was already certain; we'd also make the point that the FOMC isn't hiking anytime soon until labor market strength bleeds over into sustained above target inflation." Consensus: Hold.

 

Thursday 12 December

 

SNB Rate Decision with press conference (08.30)

“Anyone looking for excitement next Thursday would be well-advised to skip the SNB’s December policy announcement,” Capital Economics said. “The bank is all but certain to leave the policy rate on hold at -0.75pct, where it has now stood for almost five years.” Consensus: Hold.

 

ECB Rate Decision (12.45)

This will be new President Christine Lagarde’s first monetary policy meeting, and she could provide more clues about her stance and leadership characteristics at the follow-on press conference at 13.30 GMT. New staff projections could hint at future policy, and Lagarde is expected to announce the bank’s strategy review, which could take up to six months, analysts said. Consensus: Hold.

 

UK National Election (exit polls due after 22.00 GMT)

With the percentage lead for the Conservatives in the double digits at press time, it looks like they should score a strong victory and a lower-house majority, which would likely smooth the Brexit transition. But reports say one-fifth of the electorate is still undecided.

 

 

---LiveSquawk News

Week Ahead Infograph