UK labour market report the main highlight
Good day, everyone! Hope you're all doing well as we get things going here in the session. It's been a bit of a quiet one to begin with but there are small hints that risk is improving as the yen slips to start the day with E-minis trading higher.
There are a few data points on the docket to move things along so let's see what is on the agenda:
0600 GMT - Germany August import prices data
Prior release can be found here. Not a major release by any means as it pertains to inflationary pressures in Germany and this is a lagging indicator (we already had latest CPI figures earlier in the month).
0830 GMT - UK August average weekly earnings
0830 GMT - UK August ILO unemployment rate
0830 GMT - UK September claimant count rate, change
Prior release can be found here. The main highlight of the session but keep in mind that data points at this juncture are very much secondary for the pound. It's all about Brexit right now with the EU Summit to take place tomorrow. Focus here will be on wages - which are expected to hold steady from July - so any reaction will depend on that. However, given the context of Brexit, expect any positive news to be tempered with Brexit negativity over the past few days.
0900 GMT - Eurozone August trade balance data
Prior report can be found here. Low-tier data since we already had the German and French readings earlier in the month.
0900 GMT - Germany October ZEW survey current situation, expectations
Prior release can be found here. A minor data point, provides a general gauge of investor and economic sentiment towards the German and Eurozone economies.
That's all for the session ahead. I wish you all the best of days to come and as always, good luck with your trading!
