News from across the Atlantic will dominate macroeconomic headlines next week as traders look for clarity around the Federal Reserve’s next move on interest rates.
Wednesday is set to bring both a second estimate for third-quarter gross domestic product and a producer price index reading from the US.
October is expected to have seen a 0.2% uptick in producer prices, mirroring September’s increase, according to Trading Economics figures.
Coinciding GDP data will be in focus for any changes from the first estimate of a 2.8% expansion over the third quarter in the meantime.
“The US economy has managed to remain resilient throughout this year,” CMC Markets analyst Michael Hewson said.
However, there is “concern that headline inflation may be starting to bottom out,” he added, leaving the figures “likely to add colour to the picture as to whether we get a December rate cut from the Fed”.
Federal Open Market Committee minutes are also due on Tuesday from the US, alongside house price and home sales data.
In the UK, attention will be on Friday’s house price reading from Nationwide and Bank of England consumer credit figures, when Eurozone inflation data is also due.