Economic data coming up in the European session

Author: Justin Low | Category: News

A couple of light data points before we head towards the NFP showdown

Sell
Happy Friday, everyone! Stocks took a beating yesterday as tech got crushed heavily with the Nasdaq dipping by 5% and that pretty much reverberated across markets in general.

In FX though, the moves were more measured but the dollar had been gaining throughout the week so make what you will with that.

There hasn't really been a bad day for stocks since June and yesterday was a definite reality check, with futures today also pointing to some slight downside for now.

The bears have finally got one in the bag, but it certainly feels like a hollow victory - for now at least - after weeks of having to sit on the wrong side of the fence.

Major currencies movement today remains more muted for now as all eyes will be on the US non-farm payrolls report later.

That should still be the case in Europe, as risk sentiment starts to take up the mantle as being the key theme for markets ahead of the long weekend (US holiday on Monday).

0600 GMT - Germany July factory orders data
Prior release can be found here. Factory orders are expected to rebound further in July but amid a cap in domestic demand as seen by the August PMI survey, it remains to be seen if the recovery pace can keep up towards the latter stages of the year.

0730 GMT - Germany August construction PMI
Prior release can be found here. Housing activity was what helped to boost growth in the construction sector in July and amid the lack of fresh investments, commercial activity is likely to remain subdued so that may eventually catch up and weigh on overall activity in the months ahead - starting with August potentially.

0830 GMT - UK August construction PMI
Prior release can be found here. Similarly, home building is what is driving the recovery in the UK construction sector but there are also some improvements in commercial activity at least; though it remains to be seen if that can hold up moving into Q4.

That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose