Look ahead: UK unemployment; Canada CPI; ZEW; Ocado; Goldman Sachs
Retail and the consumer are key themes on Tuesday with inflation figures from Canada, the ZEW from Germany; jobless rate figures from the UK and trading from Ocado.
Goldman Sachs is expected to report a Q4 profit rise thanks to strength in its trading and investment banking units.
(AI Video Summary)
Consumer, unemployment and inflation data
In today's "Look ahead", Angeline Ong gives a quick rundown of the important economic data and earnings reports to keep an eye on for 16 January. She starts off by mentioning the Westpac Consumer Confidence data in Australia, which is expected to show an increase compared to last month. Over in the UK, we can expect to see the release of the unemployment rate for November before the Bank of England makes their rate decision. The inflation figures in the UK are also something to watch, as they will play a crucial role in the central bank's next meeting.
In Germany, the ZEW Economic Sentiment is an index that's worth paying attention to, as it has been performing well when compared to other European countries. However, there has been a decline in the manufacturing sector, especially in the energy supply industry. Shifting our focus to Canada, the consumer price index for December is anticipated to show a decrease from the previous month.
Companies' earnings reports
Moving on to earnings reports, Ong highlights that retailers are still in the spotlight even after the holiday shopping season. Companies like Ocado, Sainsbury's, and Marks & Spencer will be releasing their trading statements. While groceries have shown positive results, general merchandise has remained weak. In the mining sector, Rio Tinto will be sharing their Q4 operational review.
Goldman Sachs and Morgan Stanley to report bank earnings
However, the real excitement lies in the United States, where big earnings reports are expected from the banks. Goldman Sachs is predicted to see a rise in profit thanks to their trading and investment banking arm, which is set to compensate for any losses from their consumer units. We also eagerly await Morgan Stanley's earnings report.
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