US: Q3 GDP, personal spending and durable goods orders in focus - BBH

Research Team at BBH suggests that during the North American session, the US reports revised Q3 GDP, November personal spending, core PCE, durable goods orders, leading index, and weekly jobless claims. 

Key Quotes

“Of note, the jobless claims will be for the week that the monthly BLS jobs survey is taken.  Canada reports November CPI using new methodology.  There are no Fed speakers today.”

“Mexico reports mid-December CPI and October GDP proxy.  The former is expected to rise 3.41% y/y, while the latter is expected to rise 1.4% y/y.  Banco de Mexico hiked a bigger than expected 50 bp last week, as inflation risks are clearly rising.  PPI points to strong pipeline price pressures, and the weak peso is adding to this.  Next policy meeting is February 9 while the next FOMC meeting is February 1.  The Fed is unlikely to hike then, and so Banxico may keep policy steady too.  However, a lot can still happen between now and then.”