From Eurozone, on Friday, Spanish CPI data was released. In December, Spanish CPI was eight tenths higher than in November. The annual rate of the leading indicator of the HICP was 1.4%. The estimated annual inflation of the CPI in December 2016 is 1.5%, according to the an advance indicator prepared by INE. This indicator provides an advance of the CPI which, if confirmed, would Increase of eight tenths in its annual rate, since in the month of November this variation was 0.7%. This increase is mainly explained by the rise in fuel prices (Diesel and gasoline) compared to the decline experienced last year. On the other hand, the annual variation of the leading indicator of the HICP 1.4%.
In the US session Chicago PMI figures were released. The MNI Chicago Business Barometer fell 3.0 points to 54.6 in December from 57.6 in November, led by declines in both New Orders and Order Backlogs. After a disappointing start to the fourth quarter, the latest results suggest economic conditions have improved somewhat, with the Barometer averaging 54.3 in Q4, the highest in two years. The December decline was led by a slowdown in New Orders, which fell 6.7 points to 56.5, giving up most of the November gain that had left it running at the fastest pace since June.
There will be no major data releases from Eurozone tomorrow, and with holiday in USA we can expect a less volatile session.
