China kicks off the week on Monday with December's consumer price report which is expected to finally show some bounce, data that will be followed on Tuesday with Chinese merchandise trade, a report that in November was headlined by a record surplus and export growth of 20 percent! Data on Wednesday will include Eurozone industrial production, US consumer prices, and the US Treasury deficit for December, the latter a benchmark to note as the Democrats take control of Washington. Thursday's jobless claims will offer a January update on the US labor market and will be followed on Friday by retail sales and the definitive verdict on the US holiday season. Offering the first definitive data on factory activity in December will be US industrial production on Friday followed by US consumer sentiment for mid-January which will offer the first psychological assessment of the storming of the Capitol. Also released Friday will be GDP in the UK for the month of November in what will shape expectations for fourth-quarter GDP.
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