Investing.com – Here’s a preview of the top 3 things that could rock markets tomorrow
US industrial production on tap
US Industrial production data rounds off a busy week of US economic data which included a Federal Reserve rate hike Wednesday, while strong retail sales data on Thursday suggested the US economy remained on track to deliver a strong performance in the fourth quarter.
Economists forecast Industrial production rose 0.3% in November, well below the 0.9% growth in the previous month.
Ahead of the data, the dollar struggled to hold gains against its rivals, trading just above breakeven at 93.64.
EU trade data in focus
Eurozone trade data for October is show the bloc’s trade balance fell to €24.6 billion from €26.4 in October.
The data comes as investors mulled over a somewhat dovish statement from the European Central Bank on Thursday, when the central bank left rates unchanged, reiterating its commitment to running an asset-purchase stimulus programme until at least next September.
The EUR/USD fell 0.3% to $1.1791.
Baker Hughes rig count
The weekly instalment of drilling activity from Baker Hughes on Friday, will provide investors with fresh insight into U.S. oil production and demand, after the number of active drilling rigs rose last week.
The weekly rig count is an important barometer for the drilling industry and serves as a proxy for oil production and oil services demand.
At Thursday’s settlement price, crude futures added 44 cents to settle at $57.04 a barrel amid ongoing bullish sentiment on oil markets as data showed OPEC compliance rose to its highest this year.
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