Events that marked the week:
From Eurozone, on Monday, German Business Confidence figures were released. German business morale rose in December, a survey showed on Monday, hitting its highest level since February 2014 and supporting expectations that Europe's largest economy will rebound in the fourth quarter. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 after from 110.4 in November.
Monday's session brought Eurozone
Current Account figures.
The current account of the euro area recorded a surplus of €28.4 billion in October 2016. This reflected surpluses for goods (€26.0 billion), services (€9.3 billion) and primary income (€6.1 billion), which were partly offset by a deficit for secondary income (€13.0 billion). The 12-month cumulated current account for the period ending in October 2016 recorded a surplus of €344.3 billion (3.2% of euro area
GDP), compared with one of €320.2 billion (3.1% of euro area GDP) for the 12 months to October 2015.
Friday was marked by German Consumer Climate figures. Consumer confidence is ending the year on a largely positive note. Economic expectations have increased slightly, while income expectations have seen significant growth. In contrast, propensity to buy has suffered moderate losses. The overall consumer climate index is forecasting 9.9 points for the first month of next year, after a figure of 9.8 points in December.
This week markets will be looking at:
M3 Money Supply (Thursday 10:00)
Spanish Flash CPI (Friday 9:00)
