A couple of data points to move things along amid Brexit focus today
Good day, everyone! Hope you're all doing well as we look to get things going in the session ahead. It's been a decent start to the day so far with the dollar making some headway against the rest of the major bloc.
But expect the session ahead to revolve more around the pound as the UK parliament returns from their summer recess to vote on an emergency motion against a no-deal Brexit, in trying to force Boris Johnson to extend Article 50 again.
Essentially, that is akin to voting for an election so expect that to be the next plausible development as Johnson's working majority will evaporate should the vote succeed.
Besides that, keep the focus on risk sentiment as US and China continue their struggles to build towards proposed trade talks in Washington this month.
0630 GMT - Switzerland August CPI figures
Prior report can be found here. Inflationary pressures remain subdued in the Swiss economy and the latest figures here will continue to reflect that. This just adds to more reason for the SNB to add to current stimulus measures and they will certainly have to do so after the ECB does later this month.
0830 GMT - UK August construction PMI
Prior release can be found here. Construction activity should remain soft considering economic sluggishness in the UK and the data here should reaffirm that. The pound focus remains on Brexit headlines at the moment so don't expect the data here to do much.
0900 GMT - Eurozone July PPI figures
Prior release can be found here. A proxy indication of inflationary pressures in the euro area economy, which is suggestive of waning prices in the region as of late. It is a bit of a lagging indicator though with CPI figures for August already being released earlier.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
