A light start to the trading calendar this week
Good day, everyone! I hope that everyone has been doing well over the last two weeks and a special thanks to Dane for a great job during the time as well.
Anyway, as for action today there was some movement in the loonie as well as the PBOC has once again proceeding to weaken the yuan further in today's fixing and that has been the more notable event so far in trading following last Friday's payrolls reaction.
With the calendar today void of any key data (and most of Canada is on holiday) it should be one where the ebb and flow will continue to dictate things so we'll dive into a couple of charts later on.
0600 GMT - Germany June factory orders
Prior report can be found here. Factory/industrial data for the German economy, a minor data point but one which will feed into overall Q2 sentiment on Eurozone growth.
0730 GMT - Germany July construction PMI
Prior release can be found here. A minor data point overall but one that reflects German economic sentiment quite a bit.
0800 GMT - SNB total sight deposits w.e. 3 August
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0830 GMT - Eurozone Sentix investor confidence survey
Prior release can be found here. Investor sentiment towards the Eurozone economy has been tilting towards the downside in the last few months and though the political situation in both Italy and Germany have improved, expectations towards economic growth is still iffy. Current conditions is expected to tick higher a little but I believe expectations should remain subdued.
That's all for the session today. Just want to say it feels good to be back and hope to kick things into gear once again - after some oil on the motor to get things started. I wish you all the best of days ahead and as always good luck with your trading!
