In the session US Industrial Production data was released. The Fed said industrial output surged 0.9 percent last month also buoyed by robust gains in mining production, after slipping 0.1 percent in November. Economists polled by Reuters had forecast industrial production advancing 0.4 percent in December. It rose at an annual rate of 8.2 percent in the fourth quarter, the biggest gain since the second quarter of 2010. For all of 2017, industrial output rose 1.8 percent, the first and largest increase since 2014. In another report, the U.S. central bank said the economy continued to expand from late November through the end of 2017.
Tomorrow's session will bring Australian job figures and China's GDP and Industrial Production data. While Unemployment Rate should remain unchanged at 5.4%, number of employed should increase by 13,400. China's GDP is expected to decrease to 6.7% while Industrial Production should rose by 7.1%. In the US session Building Permits, Housing Starts and Unemployment Claims figures will be published. Analysts predict almost no change in Building Permits and Housing Starts, while Unemployment Claims should decline to 250,000.
Figures to watch:
Employment Change/Unemployment Rate (Thursday 1:30)
China's GDP/Industrial Production (Thursday 8:00)
Building Permits/Housing Starts (Thursday 14:30)
Unemployment Claims (Thursday 14:30)
