Plenty of US data to come today ahead of the Fed
The Fed aren't going to change their mind on a couple of data points due today but they could be used to help shape the message we get
November housing starts and building permits is first off the bat at 13.30 GMT and we're looking for a jump to 1.135m vs 1.060m prior. Permits are forecast to come in at 1.150m vs 1.161m in Oct
At 14.15GMT we shift sectors to get Nov industrial production
- Industrial production is expected in at -0.1% vs -0.2% prior m/m
- Manufacturing output 0.1% exp vs 0.4% prior
- Capacity utilisation 77.4% exp vs 77.5% prior
The capacity number could be of late importance to the Fed if we see a decent increase
To round the data off we get the December flash of the Markit manufacturing numbers. It took a dive in Oct to 52.8 from 54.1 and is expected to lose two more pips to 52.6
So some late numbers to take into consideration, though unless we see some super big variations, the market is unlikely to really sink its teeth into them
