Yesterday's session brought German Factory Orders and Retail Sales figures as well as Eurozone Unemployment Rate data. Based on provisional data, the Federal Statistical Office (Destatis) reports that German price-adjusted new orders in manufacturing in November 2015 increased a seasonally and working-day adjusted 1.5% on October 2015. Analysts were forecasting 0.5% increase. In October 2015, the increase on the previous month showed a corrected +1.7% (primary +1.8%). In November 2015, domestic orders increased 2.6% and foreign orders 0.6% on the previous month. As regards the direction of trade in foreign transactions, new orders from the euro area were down 0.5% on the previous month, while new orders from other countries increased 1.4%.
Destatis also reports that retail turnover 2015 in Germany is expected to be in real terms between 2.8% and 3.1% larger than that in 2014. In nominal terms turnover is expected to increase by between also 2.8% and 3.1%. According to provisional data turnover in retail trade in November 2015 was in real terms 2.3% and in nominal terms 2.8% larger than that in November 2014. When adjusted for calendar and seasonal variations,
the November turnover was in real terms 0.2% and in nominal terms 0.3% larger than that in October 2015. This was below expected incline by 0.5%.
The euro area (EA19) seasonally-adjusted unemployment rate was 10.5% in November 2015, down from 10.6% in October 2015, and from 11.5% in November 2014. This is the lowest rate recorded in the euro area since October 2011. The EU28 unemployment rate was 9.1% in November 2015, down from 9.2% in October 2015, and from 10.0% in November 2014. This is the lowest rate recorded in the EU28 since July 2009.
In the US session Unemployment Claims figures were released.In the week ending January 2, the advance figure for seasonally adjusted initial claims was 277,000, a decrease of 10,000 from the previous week's unrevised level of 287,000. Analysts were anticipating decline to 271,000. The 4-week moving average was 275,750, a decrease of 1,250 from the previous week's unrevised average of 277,000.
There will be no major data releases from Eurozone tomorrow. In the US session NFP figures are scheduled for a release. Analysts are expecting increase by 203,000 in number of employed and unemployment rate to remain unchanged at 5.0%.
Figures to watch:
Non-Farm Employment Change/Average Hourly Earnings/Unemployment Rate (Friday 14:30)
