Friday trading

The highlight over the next 24 hours will be the US retail sales and PPI which will both be released at 8;30 AM ET.

Retail sales are expected to rise by 0.2% vs 0.1% prior. If you strip out Auto, the gain is 0.3%. Ex Auto and gas and +0.4% is the expectations. Finally the control group estimate is +0.4%

As for PPI, the headline is expected to be unchanged vs -0.4% last month. Ex Food and Energy is expected to rise by 0.1% (was -0.3%). YoY for each is -1.4% and +0.2% respectively. Not much inflation from a producer price perspective.

The University of Michigan consumer sentiment index will be released at 10 AM ET with expectations of 92.3 vs. 91.3. The peak for 2015 came in January at 98.2, while the low was reached in September at 85.7

Other releases include:

  • German final CPI +0.1, estimate
  • Italian industrial production +0.3% estimate.
  • UK construction output +1.1%
  • Italian quarterly unemployment rate 11.9% vs. 12.4% last quarter
  • US business inventories +0.1% vs. +0.3% last month

On Saturday, China will release industrial production data with expectations of 5.7% year on year. They will also release retail sales year on year estimate 11.2% vs. 11.0%.