Tuesday, December 12, 2023

Economic calendar: inflation data from Europe and the United States

  • European indices opened slightly higher today
  • Eurozone CPI, US PCE
  • Speeches by ECB members, including President Lagarde

European stock indexes started today’s session slightly higher, after an optimistic session in the Asia-Pacific session. The size of the increases was not large, but most Western European blue-chip indices traded 0.2 to 0.5% higher.

The economic calendar for the next day includes some important releases. Eurozone CPI data for September is due at 10:00am BST and is expected to show a slowdown in leading and core indicators. A key release in the afternoon was the US data package for August, including PCE inflation data as well as personal consumption and spending data. Last but not least, several speeches by ECB members are scheduled today, including a speech by ECB President Lagarde.

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8:55 am BST – Germany, unemployment rate for September. Expected: 5.7%. Previous: 5.7%

9:00 am BST – Poland, September CPI inflation. Expected: 8.5% year-on-year. Previous: 10.1% year-over-year

10:00 am BST – Italy, September CPI inflation. Expected: 5.3% year-on-year. Previous: 5.4% year-over-year

10:00 am BST – Eurozone, September CPI inflation.

  • Major. Expected: 4.5% year-on-year. Previous: 5.2% year-on-year
  • Underlying. Expected: 4.8% year-on-year. Previous: 5.2% year-on-year

1:30 pm BST – US, August data.

  • Primary PCE. Expected: 3.5% year-on-year. Previous: 3.3% year-on-year
  • underlying PCE. Expected: 3.9% year-on-year. Previous: 4.2% year-on-year
  • Personal income. Expected: 0.4% per month. Previously: 0.2% per month
  • Personal expenses. Expected: 0.5% month-on-month. Previous: 0.8% month-on-month

1:30 pm BST – Canada, monthly GDP for July. Expected: 0.1% per month. Previously: -0.2% per month

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3:00 pm BST – EE.UU., University of Michigan consumer sentiment for September (final). First version: 67.7

Speeches by central bankers

  • 8:40 am BST – Lagarde, ECB president
  • 9:45 am BST – BCE Vasle and BCE Vujcic
  • 10:00 am BST – ECB Kazakhstan
  • 10:00 am BST – BCE Visco
  • 5:45 pm BST – Fed by Williams

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