On Friday, key economic data releases from the UK and Italy will be spotlighted, focusing on retail sales and public sector finances for the UK, as well as business and consumer confidence metrics from Italy.
UK retail sales and public sector finance reports will be released at 2:00 am ET by the Office for National Statistics. It is anticipated that retail sales will increase by 0.5% in November, reversing the 0.7% decline observed in October. The budget deficit is expected to contract, projected at £15.5 billion compared to £17.35 billion in the preceding month.
Simultaneously, Germany will reveal its producer prices data. Analysts predict a 0.3% year-on-year decline in November, following a decrease of 1.1% in October.
At 2:45 am ET, France's statistical office, INSEE, will publish its November producer prices.
Italy will release its business and consumer sentiment survey results at 4:00 am ET. Experts foresee the business sentiment index dropping to 86.0 in December from November's 86.5. Meanwhile, the consumer confidence index is expected to increase marginally to 97.0 from 96.6.
Russia's central bank is scheduled to announce its monetary policy decision at 5:30 am ET, with expectations pointing towards a significant rate hike of 200 basis points, bringing the benchmark rate to 23.0%.
Later, at 6:00 am ET, the Confederation of British Industry will release its Distributive Trade survey results. The retail sales balance is projected to improve to -10% in December from -18% in November.
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