Some economic releases to fill the void ahead of the US NFP later
Happy Friday, everyone! Hope you're all doing well as we head approach the end of the week. It was a topsy turvy session in trading yesterday with Wall St recovering from a massive setback at the beginning in what has to be a win for risk as odds of a Fed rate hike on 19 December start to tail off.
The session ahead contains a couple of releases but none of it will matter all too much ahead of the non-farm payrolls to come in US trading. With the Fed starting to move towards the sidelines and December rate hike odds fading, the release here will be heavily scrutinised by markets no matter the outcome.
Although economic releases will be of little significance, there is still the OPEC+ meeting to come with OPEC members set to meet with Russia to try and agree on a production cut before the end of the day.
0700 GMT - Germany October industrial production data
Prior release can be found here. Factory activity data that will be of importance to see if we are going to observe a rebound in the German economy in Q4. However, it's a minor release on the day.
0745 GMT - France October trade balance data
Prior report can be found here. Trade figures coming out of France, low-tier data.
0745 GMT - France October industrial production data
Prior release can be found here. The release here won't do much to move markets but it'll be taken along other Q4 Eurozone data to build economic sentiment as to whether or not growth will continue to be sluggish as we end the year or if there is an improvement relative to Q3.
0800 GMT - Switzerland November foreign currency reserves
Prior release can be found here. The SNB's ballooning reserves is expected to continue to well, balloon further. Not a release that matters all too much for markets.
0830 GMT - UK November Halifax house prices data
Prior release can be found here. General gauge of UK housing market sentiment, which has been softening as of late no thanks to Brexit uncertainty and falling prices in London. A minor data point.
0930 GMT - BOE releases its latest consumer inflation expectations
Prior report can be found here. Provides a rough idea on expectations of UK households i.e. the public on inflation as well as the BOE. Not a major release by any means.
1000 GMT - Eurozone Q3 GDP final reading
The second reading can be found here. As this is the final reading, it's not expected to be a market mover by any means unless it skews widely off earlier estimates; which is unlikely.
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!
