Economic data coming up in the European session

Author: Justin Low | Category: News

A couple of light releases to move things along before the weekend

The market focus is going to reside on risk sentiment and bond yields once again today, with little else on offer for traders to work with ahead of the weekend break.

The dollar was pressured in trading yesterday, seeing EUR/USD break above its 200-day moving average and holding a daily break above the 1.1900 level.

USD/JPY was pushed lower but found support closer to the 109.00 handle for now.

This comes as Treasury yields saw a further retreat, easing to 1.62% and is holding around 1.63% as we look towards European trading today.

There is some semblance of a soft bottom around 1.60% so watch out for that in the short-term to gauge how far this reversal rally in Treasuries has to go.

US futures are keeping steadier, with Nasdaq futures leading gains again and looking poised to keep with the run this week as yields stay on the retreat.

Looking ahead, US CPI data on Tuesday next week will be among the next key risk events for the market to pay attention to after a bit of a data lull in the past few days.

0545 GMT - Switzerland March unemployment rate
Prior release can be found here. The Swiss jobless rate is estimated to keep steady but underlying labour market conditions continue to be largely masked by the furlough program, so it is tough to extrapolate much from the reading above.

0600 GMT - Germany February industrial production data
Prior release can be found here. As previewed by the PMI data, factory production should show some improvement in February as the industrial sector holds up.

0600 GMT - Germany February trade balance data
Prior release can be found here. Much like everywhere else around the world, trade conditions in Germany are gradually working their way back to pre-virus levels and it will still take some time - so the narrative will remain through the year.

0730 GMT - UK March Halifax house prices data
Prior release can be found here. With the government extending the stamp duty holiday and UK economic prospects improving, this should at least keep the housing market more buoyant in the months ahead. There has been some moderation in prices of dwellings to start the year but they are still comfortably higher as compared to a year ago.

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.

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