UK data have been a mainstay this week and things will continue today with the GDP data. We will be getting the monthly numbers for December and the preliminary estimates for Q4 2023. On the latter, the UK economy is expected to contract again by 0.1% and reaffirm a technical recession.
I don’t see this as being too much of a market mover but just be wary of a reaction in the pound to any surprises to the data. Besides that, there will be a couple of light releases to string things along in the session ahead. But all eyes are currently fixated on the US data to come later. That will be the one to have more significant repercussions for broader markets.
0700 GMT – UK December monthly GDP data
0700 GMT – UK Q4 preliminary GDP figures
0730 GMT – Switzerland January producer and import prices
0800 GMT – Spain January final CPI figures
1000 GMT – Eurozone December trade balance data
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.