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[IFX Gertrude]

EUROPEAN ECONOMICS PREVIEW: EUROZONE INDUSTRIAL PRODUCTION DATA DUE



Industrial production data from euro area is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to release Germany's wholesale price figures for November. Economists forecast wholesale prices to rise 0.2 percent on month, in contrast to a 0.2 percent fall in October.

In the meantime, industrial production and retail sales reports are due from Turkey. Production is seen climbing 9 percent annually in October, faster than the 8.1 percent rise in September.

At 3.00 am ET, consumer price figures are due from Slovakia. Inflation is forecast to rise to 1.5 percent in November from 1.6 percent in October.

At 5.00 am ET, Eurostat is set to publish euro area industrial production data for October. Economists expect output to grow 2 percent on month, reversing a 0.4 percent fall in September.

At 6.00 am ET, Germany's central bank is slated to release its monthly report.

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[IFX Gertrude]

CHINA DATA DUE ON TUESDAY



China is scheduled to release a batch of data on Tuesday, setting the pace for a busy day in Asia-Pacific economic activity. On tap are November numbers for industrial production, retail sales, fixed asset investment and unemployment.

In October, industrial production was up 6.9 percent on year, while retail sales were up 4.3 percent, fixed asset investment gained 1.8 percent and the jobless rate was at 5.3 percent.

The Reserve Bank of Australia will release the minutes from its December 1 monetary policy meeting. At the meeting, the board voted to maintained its key benchmark lending rate at the record low of 0.10 percent and likely will keep it there for at least three more years.

Indonesia will see November trade data and Q3 business confidence figures. In October, imports plummeted 26.93 percent on year and exports fell an annual 3.29 percent for a trade surplus of $3.61 billion. In Q2, the business confidence index came in with a score of 102.90.

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[IFX Gertrude]

AUSTRALIA LEADING INDEX LOGS RECORD GROWTH IN NOVEMBER



Australia's leading index registered its strongest growth in the survey history in November signaling above trend growth, data from Westpac showed on Wednesday.

The six-month annualized growth rate in the Westpac Melbourne Institute leading index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose to 4.38 percent in November from 3.77 percent in October.

The leading index growth rate has climbed an extraordinary 8.79 percentage points since June.

The Reserve Bank Board next meets on February 2. Bill Evans, chief economist at Westpac expects the central bank to introduce a second A$100 billion program following the expiry of the first one in late April/ early May.

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[IFX Gertrude]

SINGAPORE NODX SLIDE IN NOVEMBER



Non-oil domestic exports in Singapore dropped 4.9 percent on year in November, Enterprise Singapore said on Thursday - missing forecasts for a gain of 2.0 percent following the 3.1 percent drop in October.

On a monthly basis, NODX slid 3.8 percent - again shy of expectations for a gain of 6.2 percent following the 5.4 percent decline in the previous month.

The decline was mainly due to decreases among petrochemicals, pharmaceuticals, non-monetary gold and electronics.

NODX to the top 10 markets as a whole decreased in November, although exports to the United States, Japan, Taiwan, Malaysia, Thailand and Hong Kong increased.


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[IFX Gertrude]

YEN LITTLE CHANGED AFTER BOJ DECISION



As expected, the Bank of Japan kept its interest rate unchanged at -0.1 percent and maintained the purchase of government bonds so that the 10-year JGB yield remained at zero percent. The bank extended the duration of additional purchases of corporate debt and the COVID-19 corporate funding support program by six months.

After the decision, the yen changed little against its major rivals.

The yen was trading at 103.41 against the greenback, 116.87 against the franc, 126.65 against the euro and 139.95 against the pound around 11:00 pm ET.

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[IFX Gertrude]

NEW ZEALAND CREDIT CARD SPENDING DATA DUE ON MONDAY



New Zealand will on Monday release November numbers for credit card spending, highlighting a modest day for Asia-Pacific economic activity. In October, card spending was down 6.3 percent on year.

Taiwan will see November numbers for export orders, with forecasts suggesting an increase of 13.4 percent on year after rising an annual 9.1 percent in October.

China will provide December prime rate numbers for one- and five-year loans. The one year is expected to hold steady at 3.85 percent, and five-year is tipped to be unchanged at 4.65 percent.

Hong Kong will release November inflation data; in October, consumer prices were down 0.2 percent on year.

The Philippines will provide October numbers for producer prices; in September, prices were down 3.9 percent on year.

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[IFX Gertrude]

EUROPEAN ECONOMICS PREVIEW: UK GDP DATA DUE



Quarterly national accounts and public sector finances from the UK are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK GDP and public sector net borrowing figures for November. GDP is forecast to expand 15.5 percent sequentially in the third quarter, as initially estimated.

The budget deficit is forecast to widen to GBP 27.3 billion in November from GBP 21.58 billion in October.

In the meantime, Germany's Gfk consumer confidence survey results are due. The forward-looking consumer confidence index is seen at -8.8 in January versus -6.7 in December. At 3.00 am ET, the National Institute of Economic Research is set to publish Sweden's economic tendency survey results.

Half an hour later, Statistics Sweden releases producer prices and retail sales for November.

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[IFX Gertrude]

UK CAR PRODUCTION DECLINES IN NOVEMBER: SMMT



UK car production declined in November, data released by the Society of Motor Manufacturers and Traders, or SMMT, showed Wednesday.

Car manufacturing decreased 1.4 percent annually to 106,243 units in November.

Output for domestic markets dropped 10.4 percent, while that for exports gained marginally by 0.3 percent.

The annual decline in production masks a particularly weak November 2019 when precautionary factory shutdowns in anticipation of a potential 'no deal' Brexit on October 31, depressed output.

Year-to-date production was down -31.0 percent with 380,809 fewer cars manufactured in 2020. This puts the industry on course to produce fewer than a million cars this year for only the second time since the early eighties, the lobby noted.

Around 85 percent of cars built in November were manufactured for exports, highlighting the critical importance of free and fair trade with global markets to UK car makers.

Yet another decline for UK car production is of course concerning, but not nearly as concerning as the New Year nightmare facing the automotive industry if we do not get a Brexit deal that works for the sector, Mike Hawes, SMMT chief executive, said.

"With just nine days to go, the threat of 'no deal' is palpable and the sector, now also reeling from the latest coronavirus resurgence, Tier 4 showroom lockdowns and disruption at critical UK ports, needs more than ever the tariff-free trading arrangements on which our competitiveness is founded, Hawes added.

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[IFX Gertrude]

JAPAN SERVICES PPI FALLS FOR SECOND MONTH



Japan's services producer prices declined for the second straight month in November, the Bank of Japan said Thursday.

The services producer price index dropped 0.6 percent annually, following a 0.5 percent decrease a month ago.

On a monthly basis, services producer price inflation eased to 0.1 percent from 0.2 percent in October.

Excluding international transportation, services producer prices were down 0.4 percent versus a 0.3 percent fall in the previous month. Month-on-month, prices gained 0.2 percent, the same rate as posted in October.

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[IFX Gertrude]

JAPAN SERVICES PPI FALLS FOR SECOND MONTH



Japan's services producer prices declined for the second straight month in November, the Bank of Japan said Thursday.

The services producer price index dropped 0.6 percent annually, following a 0.5 percent decrease a month ago.

On a monthly basis, services producer price inflation eased to 0.1 percent from 0.2 percent in October.

Excluding international transportation, services producer prices were down 0.4 percent versus a 0.3 percent fall in the previous month. Month-on-month, prices gained 0.2 percent, the same rate as posted in October.

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