OPEC and euro area inflation amongst market movers today – Danske Bank

Research Team at Danske Bank, lists down the market movers for the day.

Key Quotes

“The highlight of the calendar today is the OPEC meeting in Vienna. Since late September, OPEC has worked on a deal to limit or cut output to support oil prices. There is no prescheduled time for an announcement but it is likely to come late in the afternoon (CET).”

“In the euro area, the main release is the HICP inflation figure for November. We expect the rising tendency for headline inflation to continue throughout 2016 supported by an energy price-inflation pickup, while core inflation is very likely to continue below 1% throughout 2016. Hence, we still believe the ECB will not conclude that inflation is on a sustainable path.”

“In the UK, the GfK consumer confidence and Lloyds Business Barometer indicators, both for November, are due out. We think both indicators will stay around current levels, as there is no news to indicate they may have been pulled in either direction.”