A light one on the data docket in the European morning
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 for risk once again as the market continues to take the coronavirus headlines in stride.
Asian equities are sitting higher despite seeing gains in Wall Street peter out towards the end of trading overnight. Meanwhile, US Treasury yields are also a little higher with 10-year yields up by 1.7 bps to 1.618% currently.
In the currencies space, the kiwi is the main mover after the RBNZ kept rates unchanged but reaffirmed their resolve to maintain the current stance in the coming meetings. That is also dragging the aussie mildly higher ahead of European trading.
Looking ahead, there isn't much to really shift the dial in the market as euro area industrial production data is the only release of note.
1000 GMT - Eurozone December industrial production
Prior release can be found here. An indication of factory activity in the euro area economy but it is a bit of a lagging indicator as we already had Q4 preliminary GDP data two weeks ago. Expectation is for a poor release though, following the dismal German data last week.
1200 GMT - US MBA mortgage applications w.e. 7 February
Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. Not the biggest of data points, but a general indicator of the housing sector sentiment.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!
