A light session to begin the week
Happy Monday, everyone! Hope that all of you had a great weekend and that you're doing well today. It's been a quiet start to the day so far for the most part but the yen is a notable gainer despite risk sentiment across Asia trading decently.
There isn't much in terms of economic data releases later in the European morning so expect markets to continue with the same mood following the US jobs report last week, which didn't offer much (this was my take at the time of the release).
Jobs growth was more or less within expectations but wages were on the softer side - something positive for equities as it means that the Fed is still sidelined. However, the thing that I didn't like in particular about the report was the steady unemployment rate despite a dip in the participation rate. That could potentially be hinting at something more unpleasant for labour market trends in the coming months but we'll see.
0600 GMT - Germany February trade balance data
Prior release can be found here. Given recent weakness in Germany's manufacturing sector, focus will be on exports once again. Shouldn't be a data point to really impact the euro unless the reading is a massive beat/miss.
0630 GMT - Bank of France March industry sentiment indicator
Prior release can be found here. A general indication of industrial and economic sentiment in France. A minor data point.
0800 GMT - SNB total sight deposits w.e. 5 April
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0830 GMT - Eurozone April Sentix investor confidence survey
Prior survey can be found here. The reading remains in negative territory last month and is expected to remain that way as investor morale in the Eurozone remains rather weak. A minor data point.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
