It's PMI day to kick start the week in Europe

Good day, everyone! Hope you all had a great weekend and that you're ready to get the new week going. Markets are starting off in a cheery mood with the focus being on a trade ceasefire between US and China, generating a risk on rally across asset classes so far. However, the statements from the two parties differ widely and that will be met with skepticism down the road if neither party is able to clarify what is officially agreed and what is not.

I reckon it could be a case that the US pushed forward with some conditions for a possible trade truce and China gave a consideration that they could agree to that but not a firm "yes". Of course, it is certainly the case that whatever discussed or agreed is all verbal so not necessarily binding. They probably should've just made an Unbreakable Vow with each other, pfft.

0815 GMT - Switzerland October retail sales data

Prior release can be found here. General gauge of retail/consumption sentiment in the Swiss economy. Low-tier data.

0815 GMT - Spain November manufacturing PMI

0830 GMT - Switzerland November manufacturing PMI

0845 GMT - Italy November manufacturing PMI

0850 GMT - France final November manufacturing PMI

0855 GMT - Germany final November manufacturing PMI

0900 GMT - Eurozone final November manufacturing PMI

The slew of PMI prints to come from Europe. The main focus will be on the final readings seen in France, Germany, and Eurozone as a whole. However, with this being final readings, the impact is rather muted unless the figures skew from initial estimates by a wide margin.

0900 GMT - SNB total sight deposits w.e. 30 November

Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

0930 GMT - UK November manufacturing PMI

Prior release can be found here. Sentiment in factory activity has been weakening considerably as of late and given Brexit uncertainty still lingering, it's not likely to change any time soon. The major focus for the pound remains on Brexit ahead of the meaningful vote next week so economic data will still remain secondary.

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!