UK GDP and host of Fed commentators amongst market movers today – Danske Bank

Analysts at Danske Bank outlined Tuesday's key macro data/events and also provided a brief preview of the preliminary UK GDP report for the fourth quarter of 2019.

Key Quotes:

“As the coronavirus theme gradually fades in the background for markets, focus today will be on the UK GDP and US data and host of Fed commentators.”

“In the UK, we get the first estimate of UK monthly GDP in December (and hence the first estimate for the entire fourth quarter). We know 2019 was a weak growth year in the UK but it will not have a big impact on the Bank of England, which has clearly stated it is more interested in monitoring post-election data, i.e. January and onwards.”

“In the US, NFIB small business optimism in January is released today. Fed's Powell, Bullard and Kashkari are set to speak.”

“Overnight to Wednesday the Reserve Bank of New Zealand is expected to keep rates on hold.”