A light day on the data docket in the European morning
Good day, everyone! Hope you're all doing well as we gear towards the session ahead in a couple of hours. The dollar was on the wrong end of a beating yesterday in North American trading, which saw cable surge back above the 1.3000 handle. With trade talks approaching, there's still much to play for this week as markets look to settle on firm trading narrative.
There won't be much clues to come from Europe though with the agenda today rather light. That said, Theresa May is set to visit Brussels later this evening for talks with Juncker. Their meeting is scheduled for 1730 GMT.
0700 GMT - Germany January PPI figures
Prior release can be found here. A proxy for inflationary pressures in the German economy. Low-tier data considering it is a lagging indicator as we already observed the CPI figures earlier this month.
1100 GMT - UK February CBI trends total orders, selling prices
Prior report can be found here. Readings above 0 indicates optimism while below indicates pessimism. The headline is a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. Not a major release by any means but provides an indication of manufacturing sentiment in the UK economy, which has deteriorated as a result of Brexit uncertainty over the past year.
1200 GMT - US MBA mortgage applications w.e. 15 February
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.
Aside from that, we'll have the January FOMC meeting minutes to be released in US trading later. Do take note that the media embargo system will not be applicable this time around due to severe weather conditions, hence the release may be delayed by few seconds to few minutes. That will be the highlight of the trading calendar today and you can check out all the previews for that here as compiled by Eamonn.
That's about it for the session ahead. I wish you all the best of days to come and good luck with your trading!
