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Daily Economic Outlook/ Jan 19

The IEA's monthly oil market report is due today. The OPEC's monthly oil report released yesterday indicated that 2016 will be the beginning of rebalancing the demand and supply.  The IEA has historically been more bullish regarding the outlook for an early rebalancing. The upcoming report by the agency might help curb the downside potential in prices of crude oil.

The UK's upcoming inflation data for December will see the impact of recent plunge prices. The CPI inflation in December is expected to rise to 0.2% from November's 0.1%; however, it is not likely to reach 1% until late in 2016.

Meanwhile, the upcoming ZEW survey for Eurozone for January is likely to be resilient. The flash Eurozone PMI data is set to release on Friday.

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