More on the morning data

December 23, 2016

Today’s calendar is relatively light, although some interesting figures were and are due. Morning has begun with a Chinese data, and the European session was commenced by the data from both Germany and France.

As for Germany, GFK consumer sentiment turned out to be slightly better than last month and in line with expectations. The index rose to 9.9 and showed a robust recovery in the biggest economy of the Eurozone. Slightly worse news came from France as the GDP growth in the third quarter turned out to be lower on the year to year basis. The market expected it to be at 1.1%, but the final print was at 1.0%.

The unemployment rate from Norway was lower than expected and matched last month’s print. An ultra-low rate of unemployment at 2.8% shows a solid performance of the Norway’s labor market and limits scope for further rate reductions by Norges Bank.

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