German November trade balance to be released today
Good day, everyone! Hope you're all doing well as we get into the trading session ahead. There has been decent movement in markets with commodity currencies gaining some ground early on as US and China look to wrap up trade talks in Beijing momentarily.
There are a couple of light Eurozone data points to come but plenty of focus will turn towards the Bank of Canada decision later today as the loonie continues to run hot on the week.
0700 GMT - Germany November trade balance data
Prior release can be found here. As German data has come in much softer in Q4 so far, a further slump in exports will only compound worries of recession-like growth. Expectation is for exports to decline by 0.5% on the month.
0730 GMT - Switzerland December CPI figures
Prior figures can be found here. Focus will be on the core reading but slumping inflationary pressures overall won't really aid the SNB's outlook to normalise policy down the road if the ECB is able to do so beforehand.
0745 GMT - France December consumer confidence
Prior release can be found here. An indication of confidence levels towards the French economy. A minor data point.
0800 GMT - Switzerland December foreign currency reserves
Prior figures can be found here. Was scheduled to be released on Monday but was delayed by two days. Low-tier data.
1000 GMT - Eurozone November unemployment rate
Labour market conditions in the Eurozone has been steadily tightening over the past five years and the unemployment rate is expected to hold steady at 8.1%. Low-tier data.
1200 GMT - US MBA mortgage applications w.e. 4 January
Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. Not the biggest of data points, but a general indicator of the housing sector sentiment.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
