Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
US Trade Data, Fed Speakers
The U.S. Bureau of Labor Statistics is expected to show both US export and import prices fell in December to 0.3% and 0.4%, respectively. Import prices year-on-year have been rising faster than broader consumer inflation amid an uptick in the price of fuel.
Investors will also turn attention to a speech by FOMC member Bullard, who said recently that Donald Trump’s $1.5 trillion tax overhaul may spur economic growth but tempered expectation for a faster pace of rate hikes noting the subdued pace of inflation.
Ahead of the duo of reports the dollar, rose 0.16% against its rivals to 92.23.
Energy Information Administration Weekly Inventory Report
A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles fell for the seventh-straight week.
Analysts forecast crude inventories fell by about 3.89 million barrels in the week ended Dec. 29.
Crude oil futures have made bold start to the week rising to their highest since May 2015 as investors expect the OPEC-led deal to curb output will continue to reduce excess supplies.
UK Manufacturing, Industrial Data
Investors look to a duo of reports on manufacturing and industrial production for an insight into the progress on UK economic growth amid fresh political uncertainty.
Economists’ forecast manufacturing growth in November rose 0.3% from 0.1% in the previous month, while industrial activity is expected to have risen 0.4%.
The pound has come unstuck in the wake of Prime Minister Theresa May’s decision to reshuffle the Cabinet. Some said they expected the Cabinet shuffle to strengthen May’s leadership but the opposite appears to have transpired amid a string of resignations.