A rather light one on the calendar front in Europe today
Good day, everyone! Hope you're all doing well as we get into the session ahead. It's been a decent start to the day so far with the focus being on risk once again as US equity futures are tumbling with the cash market set to reopen later after the closure yesterday.
The poorer risk sentiment is weighing on yen pairs as Treasury yields are also falling even further on the day. The sour risk tones are also weighing on commodity currencies with the aussie and kiwi much lower today and the loonie is also weighed down after a dovish take by the Bank of Canada overnight.
0700 GMT - Germany October factory orders data
Prior release can be found here. General gauge of factory activity in the German economy. We've already seen the weak manufacturing PMI prints to begin Q4 so hard data should follow alongside it. Anything better will be a bonus at this point for Germany to try and reaffirm that the slowdown isn't getting any worse.
0830 GMT - Germany November construction PMI
October's print fell into contraction territory, dipping to 49.8 and that doesn't breed a whole lot of confidence about developments in the German economy in Q4. Expectations are rather low at this point for any solid rebound. Either way, it's a minor data point.
1230 GMT - US November Challenger job cuts data
Prior report can be found here. The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator. The release here is rather volatile at times and doesn't provide much ahead of the non-farm payrolls tomorrow.
Aside from the releases above, do be reminded that the OPEC+ meeting in Vienna also takes place today so be on the look out for any headlines to come from there.
That's all for the session to come. I wish you all the best of days and good luck with your trading!
