Mixed European stocks with a focus on the US CPI and the Eurozone GDP

Tuesday's data watch by investors is probably going to restrict trading ranges during the day.

After holding interest rates steady at its most recent meeting, policymakers at the Federal Reserve have maintained the possibility of raising rates even further. Fed Chair Jerome Powell stated last week that they were still unsure whether current rates are high enough to control inflation.

Due to this, investors will be focusing on the most recent U.S. consumer price index release, searching for information that would bolster their argument that the Federal Reserve should stop raising interest rates.

Analysts predict that the top line number will increase 3.3% year over year, but only by 0.1% month over month. It is anticipated that the core CPI will increase by 0.3% each month and 4.1% annually.

In Europe, the European Central Bank ended a ten-year run of rate increases last month, but several decision-makers have since stated that rate increases should still be considered even though consumer prices have decreased.

Later in the session, we will have to analyse growth data in the form of the third-quarter GDP release for the eurozone, which is anticipated to reveal that the bloc's economy is straining under the burden of those interest rate hikes.

Additional data releases include the September unemployment rate for the United Kingdom and the November ZEW survey of economic sentiment in Germany.

Tuesday saw a slight increase in oil prices due to OPEC's most recent monthly report, which indicated that while demand is still strong, there are still concerns about it slowing down.

In its monthly report, which was released on Monday, OPEC maintained its optimistic 2024 prediction while slightly raising its forecast for growth in global oil demand in 2023.

(Sources: investing.com)