Economic data coming up in the European session
A light one on the data docket in the European morning 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 more decent start to the day after a bit of a hectic period overnight with poor US data injecting some much needed volatility into markets.
The yen is a little weaker after showing some decent strength yesterday while the aussie is slightly higher after the RBA gave a clearer hint that they are currently on hold when it comes to their handling of the cash rate.
Looking ahead, there isn't much on the economic calendar to shake things up so expect trading sentiment to center around the ebb and flow for the most part.
Markets will have to figure out if the data yesterday has much bigger implications for the US economy and global growth and with Trump keeping up with tariffs talk, we'll have to see how that influences trade negotiations with China as well.
0730 GMT - Switzerland November CPI figures
Prior release can be found here. Price pressures continue to stay subdued in the Swiss economy and the reading today should reaffirm that. The worry for the SNB is that of deflation risk and that may prompt them to take action sooner rather than later.
0930 GMT - UK November construction PMI
Prior release can be found here. Much like factory activity, the construction sector in the UK is expected to continue to show signs of stagnation and struggle. This will just add to a more flat and softer overall economic conditions in Q4.
1000 GMT - Eurozone October PPI figures
Prior release can be found here. A proxy indicator of price pressures in the euro area economy, which has been hinting at further weakness in recent months. That said, it is a lagging indicator since we have the more important CPI data released last week already.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!