The G20 meeting kicks off in Buenos Aires today and alongside the Eurozone inflation data are going to be the key economic events for the day, according to analysts at Danske Bank.
“Focus will be on signals from the US and Chinese officials ahead of the ever important Trump-Jinping meeting tomorrow, which will aim at resolving the trade dispute between the two countries.”
“We look for a ceasefire. Also in focus are statements by world leaders on the role of Saudi Arabia’s crown prince in the killing of journalist Jamal Khashoggi and renewed tensions between Russia and Ukraine.”
“In relation to economic releases, the November flash inflation numbers are due today in the euro area. 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.”