Economic data coming up in the European session
A light one on the data docket to wrap up the week
Happy Friday, everyone! Hope you're doing well as we look to get things going in the session ahead. Markets are largely more quiet and steady after the ECB decision and Draghi yesterday, which saw the euro fall and then recover strongly to close out the day.
It's one of the more tedious central bank meetings to digest but the fact that Draghi alluded to fiscal policy quite heavily in his press conference says a lot in my view.
Looking ahead, the focus will stay on central banks with the FOMC meeting next week set to steal the spotlight from hereon.
0600 GMT - Germany August wholesale price index
Prior release can be found here. The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern. A minor data point.
0700 GMT - Spain August final CPI figures
The preliminary report can be found here. As this is the final release, it isn't expected to move markets whatsoever unless the readings deviate substantially from initial estimates.
0900 GMT - Eurozone July trade balance data
Prior release can be found here. The release here should reflect what we saw from French and German readings earlier in the week, whereby exports data is seen holding up to start Q3 but domestic demand is showing signs of sluggishness. Overall, exports remain a key concern so we'll have to look at how things develop in the coming months to gain a better view of whether or not trade conditions are deteriorating further.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!