Key data to be released next week in the Eurozone, includes flash inflation numbers for November. According to analysts from Danske Bank, In the euro area, falling energy prices will drag headline inflation lower.
Key Quotes:
“In the euro area, the November flash inflation numbers are due on Friday. In October, core inflation finally took off and rose to 1.1% y/y and headline inflation remained above the ECB’s target, coming in at 2.2 % y/y in October – the highest rate since 2013. However, headline inflation was driven mainly by rising energy prices and as oil prices in EUR terms have fallen from EUR63 to EUR55 per barrel since the beginning of November, we expect this print to come in at 2.0% y/y and for the core to remain at the current level. Note, that German inflation numbers on due out on Thursday.”
“On Monday, German Ifo numbers for November are due out. After the business climate deteriorated further in October, we expect some stabilisation in business expectations in the November print, but could see further declines in the current situation assessment similar to the latest ZEW signals.”
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