What events will be in focus today? - Danske Bank

Danske Bank analysts point out that they are looking very much forward to the signing of the US-China phase 1 trade deal, as well as the publication of UK inflation data..

"The signing ceremony is scheduled to take place in the White House at 17:30 CET. The 86-page agreement will also be released today. The US and China have said that now the phase 1 trade deal has been finalised, they will get started with phase 2. We think those negotiations are going to be more complicated and think there is a 50% chance of a permanent deal ahead of the US presidential election. We also get UK inflation data for December today. Due to the high uncertainty and weak growth, focus has turned away from inflation, but if inflation comes in lower than expected, it could add fuel to the recent repricing of the Bank of England ahead of the upcoming meeting on 30 January. CPI core was 1.7% y/y in November and is expected to remain unchanged. In the euro area, industrial production data for November is due out at 11:00 CET, which will be interesting given the weakness we have seen in the European manufacturing sector in 2019. The US empire manufacturing index for January is due out at 14:30 CET. We also have some Fed speeches and the Fed Beige Book."