I posted a preview here already: Not just UK data due today - German data also a focus Tuesday (ZEW preview)
Morgan Stanley on what to expect:
- We expect the ZEW economic sentiment to have corrected by less than 0.1 standard deviations to 16.0 in December, following a 18.7 print in November, which compares to a long-term average of 24.1.
- The assessment of current business conditions will likely decrease marginally, but remain at an elevated level. We pencil in a 0.8 point decrease to a reading of 88.0 in December.
- As a result, the composite ZEW climate will likely edge down from 53.8 to 52.0.
- If confirmed, such a reading of the composite ZEW climate would be consistent with an initial estimate for the November Ifo business climate (published on December 19) of 117.0, down by 0.5 points from its new all-time record high in the previous month.
--
Oh yeah, the other big data point from Europe (OK, the UK, who don't want to in Europe) is UK inflation:
