Total input prices fell 2.4% between November and December, compared with a fall of 0.7% between October and November. This was in line with market forecasts.The overall price of materials and fuels bought by UK manufacturers for processing (total input prices) fell 10.7% in the year to December, compared with a fall of 8.2% in the year to November.
US session brought JOLTS Job Openings figures. There were 5.0 million job openings on the last business day of November. This was above expected figure of 4.86 million. The job openings rate was 3.4%. The number of job openings was little changed for total private and increased for government in November. Job openings increased for nondurable goods manufacturing and for state and local government. The number of job openings was little changed in all four regions.
Tomorrow's European part of the session should be a steadier one as there will be no major data releases from the UK. Later tomorrow, BoE Governor Mark Carney is due to testify on the Financial Stability Report before the Treasury Select Committee. In the US session Retail Sales data will be released. Analysts are predicting 0.2% increase in Retail Sales and 0.1% rise in Core Retail Sales.
Figures to watch:
BOE Gov Carney Speaks (Wednesday 15:15)
Retail Sales (Wednesday 14:30)
