Little of note in terms of data releases in Europe today
There are some mixed tones in the currencies space as we look towards European trading, with the focus set to lean more towards imminent virus restrictions set to be introduced by both Germany and France later in the day.
US futures are down by ~0.5% after a mixed mood in Wall Street yesterday, though the Nasdaq got a modest lift from AMD planning a $35 billion acquisition of Xilinx.
But amid more concerns surrounding the virus situation across major parts of the world, it is hard to ignore the barrage of negative headlines. With the US election also coming up, perhaps investors are starting to see reason to pare back on risk positions as well.
Looking ahead, there isn't much in terms of data releases to take note of but expect European traders and investors to keep the focus on the less than ideal economic developments in two of the region's biggest economies instead.
That may very well keep the euro drifting or pressured lower while regional stocks may find it hard to get much of a reprieve after a rough start to the new week.
0700 GMT - Germany September import price index
Prior release can be found here. A general indication of price pressures and a proxy for inflation in Germany, though it is a lagging one. A minor data point.
0745 GMT - France October consumer confidence
Prior release can be found here. A gauge of French consumer morale, which is anticipated to have softened amid the resurgence of virus cases across the country. That should reflect waning optimism in the economic outlook in Q4 as well.
0900 GMT - Switzerland Credit Suisse October investor sentiment
Prior release can be found here. The reading measures analysts' expectations on the Swiss economy and other economic expectations over the next 6 months. A minor data point.
1100 GMT - US MBA mortgage applications w.e. 23 October
Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. The focus will once again be on purchases as that has been one of the more bullish spots outlining that US economic conditions are not as dire as first suggested by the recent dip due to the coronavirus impact.
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.
