UK retail sales data on the docket today
Good day, everyone! Hope you're all doing well as we get things going in European trading later. It's been a decent start to the day so far with the aussie benefiting from a lower headline unemployment rate (trend data holds steady though) and the yuan is also softening after the US fails to name China as a currency manipulator (surprise, surprise /s).
0600 GMT - Germany September wholesale prices data
Prior release can be found here. The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern. A minor data point but one reflects economic sentiment in the German economy.
0600 GMT - Switzerland September trade balance data
Prior report can be found here. Low-tier data as Swiss trade figures aren't really a focal point of markets at the moment.
0830 GMT - UK September retail sales data
Prior release can be found here. As mentioned since the start of the week, data is secondary for the pound right now and this is no different. The summit in Brussels yesterday failed to produce any confident signs of a Brexit summit in November and that will continue to be the focus of markets in the weeks ahead. The quid may produce a decent reaction or two depending on the beat/miss but it's still all about Brexit at the end of the day.
Apart from that, we'll have two appearances by ECB member Ewald Nowotny as he speaks in Austria at 0800 GMT and 1100 GMT. Nowotny will be speaking on "the future of financing and currencies" in his first appearance and will be speaking at the Gewinn Messe retail investor trade fair for the second one.
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!
