A light one on the data docket to kick start the new week
Happy Monday, everyone! Hope you all had a great weekend and you're ready to get back on the trading horse in the new week. Last Friday's US jobs report was a significant event for markets in general and could possibly be an inflection point in measuring how aggressive will the Fed be in cutting rates in the coming months.
Based on the figures alone, it's amazing we're talking about a rate cut at all let alone a 50 bps rate cut in a few weeks' time. But of course, the dynamic is fluid and who knows what the US-China trade war can serve up in that time?
It'll be a bit of a quieter start to the week in the European morning so expect trading sentiment to be dictated by the ebb and flow today.
0600 GMT - Germany May industrial production data
Prior release can be found here. Much like factory orders data last week, industrial activity is likely to remain subdued and it will be evident through the annual estimate in the data here. This will feed into overall economic sentiment towards the German economy.
0600 GMT - Germany May trade balance data
Prior report can be found here. The focal point here will once again be on exports data to see how that measures up in light of recent weakness and ongoing global trade tensions. Regardless, the spotlight will still be on weak German Q2 economic performance.
0630 GMT - Bank of France June industry sentiment indicator
Prior release can be found here. General indication of sentiment towards French industrial activity with the central bank also to provide its Q2 forecast of the economy, which will be more interesting. A minor data point though.
0800 GMT - SNB total sight deposits w.e. 5 July
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0830 GMT - Eurozone July Sentix investor confidence survey
Prior release can be found here. Provides a general sentiment indicator of confidence towards the euro area economy, which hasn't been great as the outlook remains blurry in light of ongoing global trade tensions and lacklustre economic performance from Germany.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!