Economic calendar: US data and Trump's impeachment

  • European markets seen opening flat

  • House Democrats expected to vote on Trump's impeachment today

  • API data hinted at bigger-than-expected decline in oil stocks

European markets are seen opening flat on Wednesday following a mixed session in Asia. Investors will be served two noteworthy readings today - US CPI for December and DOE oil inventories report. The latter may provide some lift for oil prices should it confirm a bigger than expected drop signalled by API yesterday (-5.82 mb). Apart from that, US Vice President Pence is likely to reject a plea to invoke 25th Amendment against Trump and House Democrats are expected to vote on the impeachment articles today. However, it looks like a done deal and the question is whether the Senate will back it.

9:00 am GMT - Italy, industrial production for November. Expected: -0.4% MoM. Previous: 1.3% MoM

10:00 am GMT - Euro area, industrial production for November. Expected: 0.2% MoM. Previous: 2.1% MoM

1:30 pm GMT - US, CPI inflation for December.

  • Headline. Expected: 1.3% YoY. Previous: 1.2% YoY

  • Core. Expected: 1.6% YoY. Previous: 1.6% YoY

3:30 pm GMT - DOE report on oil inventories.

  • Oil inventories. Expected: -2.7 mb

  • Gasoline inventories. Expected: +3mb

  • Distillate inventories. Expected: +3mb

Central bankers' speeches

  • 9:00 am GMT - ECB President Lagarde
  • 6:00 pm GMT - Fed Brainard
  • 8:00 pm GMT - Fed Clarida
Daily summary: Global stocks rally loses momentum
Qutoutiao stock price rotates lower to erase yesterday's gains
Three markets to watch next week
BREAKING: US Crude Stocks rise unexpectedly
BREAKING: US Manufacturing PMI above expectations
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