Tuesday brought German Consumer Climate data. Consumer mood is improving as the end of the year approaches. After four declines in a row, the consumer climate is rising again slightly. The overall indicator is forecasting 9.4 points for January 2016 compared with 9.3 points in December. Analysts were predicting no change.Both economic and income expectations are significantly on the up. Propensity to buy confirms its extremely high level with almost no change.
In the US session
GDP and
Existing Home Sales figures were released.
US GDP increased at an annual rate of 2.0% in the third quarter of 2015, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9%. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.1%.
Total existing-home sales fell 10.5% to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million) from a downwardly revised 5.32 million in October. Analysts were anticipating rate of 5.36 million. After last month's decline (largest since July 2010 at 22.5 percent), sales are now 3.8% below a year ago — the first year-over-year decrease since September 2014.
There will be no major data releases from Eurozone tomorrow, and with holiday season coming we can expect a bit less volatile session. In the US session Durable Goods Orders and New Home Sales figures are scheduled for a release. Durable Goods are expected to decrease by 0.6%, while New Home Sales should show rise annual rate of 507,000.
Figures to watch:
Durable Goods Orders (Wednesday 14:30)
New Home Sales (Wednesday 16:00)
