A light session ahead to start the new week
Happy Monday, everyone! Hope you're all doing well as we get into the new trading week. If you hadn't gotten your coffees, fret not as there'll be plenty of time in the session ahead as the data docket is a rather thin one. That means trading will still be very much dictated by market sentiment and let's see if China's stock market rebound can spur a rally in risk.
0700 GMT - Switzerland September M3 money supply data
Prior release can be found here. General gauge of broad money in the Swiss economy. Not a major release by any means.
0800 GMT - SNB total sight deposits w.e. 19 October 2018
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
1000 GMT - Bundesbank releases its monthly report - October
Germany's central bank will be delivering their assessment on the domestic economy and likely weigh in a little on monetary policy. But don't expect anything market moving to come from the release here. This was the September release.
Also, Italy is reported to be responding to the European Commission on the budget letter by the latter that voiced out concerns. The commission has up until 29 October to reject Italy's budget proposal so it'll promise to be an interesting week. 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!
