In the US session Unemployment Claims and Chicago PMI figures were released. In the week ending December 23, the advance figure for seasonally adjusted initial claims was 245,000, unchanged from the previous week's unrevised level of 245,000. The 4-week moving average was 237,750, an increase of 1,750 from the previous week's unrevised average of 236,000. Claims taking procedures continue to be disrupted in the Virgin Islands. The claims taking process in Puerto Rico has still not returned to normal.
The MNI Chicago Business Barometer rose to 67.6 in December, up from 63.9 in November, closing the year at the highest level since March 2011. On a calendar quarter basis, the Barometer rose to 65.9 in Q4 from 61.0 in Q3, the best quarterly performance since Q1 2011, only the second time in the last decade there have been three consecutive above-60 readings in the Oct-Dec period. Both output and demand showed strong gains in December, with each rising to multi-year highs.
From Eurozone tomorrow Spanish and German CPI figures will be published. German CPI is expected to rose to 0.5%, while Spanish CPI should decline to 1.5%. There will be no data releases in the US part of the session.
Figures to watch:
German CPI (Friday)
Spanish CPI (Friday 9:00)
