Wednesday preview: US ADP and Halifax House Price Index in focus

The focus on Wednesday will be on the US labour market as consultancy ADP releases its estimate for private sector payroll growth in December.

Consensus is calling for a 165,000 person increase following the 67,000 person jump seen in November.

But while over time the report tends to mimic the official jobs report that is published two days afterwards, from one month to the next they often diverge substantially, as occured in November.

Indeed, the ADP measure is in fact backwards looking; nevertheless, when it comes in well above or below economists' estimates then it can lead to bouts of intraday volatility.

In the UK meanwhile, the only significant economic report due out is mortgage lender Halifax's House Price Index for the month of December.

Across the Channel, German factory orders figures for November are scheduled for release at 0700 GMT, followed by the European Commission's survey results for euro area consumer and industrial confidence in December.

Wednesday January 08

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QUARTERLY PAYMENT DATE

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INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (EU) (10:00)

Consumer Credit (US) (20:00)

Crude Oil Inventories (US) (15:30)

Economic Sentiment Indicator (EU) (10:00)

Factory Orders (GER) (07:00)