Economic data coming up in the European session

Author: Justin Low | Category: News

A light one on the data docket to start the week



It's a quiet start to proceedings so far with the dollar continuing to hold its own against the euro, with EUR/USD keeping close to 1.1800 though in a narrow range.

USD/JPY is still pinned just under 110.00 while other dollar pairs are also showing a bit more of a mixed mood amid more of a push and pull since trading last week.

On the balance of things, the dollar ended the week higher but we did see some key technical levels called into action on Friday with GBP/USD falling just short of testing the 3 September high of 1.3892, AUD/USD moving back away from 0.7400, and NZD/USD flirting with a break of its 200-day moving average (seen @ 0.7115 currently).

The overall risk mood also looks a bit more vulnerable with equities giving back some early optimism at the end of last week, so the early gains we're seeing today with US futures isn't necessarily a given for a more straightforward kind of day.

US CPI data tomorrow will be key and I would argue that only after that is over and done with that the new week really gets started but by then, there is the potential that we could just be drifting all the way through to the FOMC meeting next week.

0600 GMT - Germany August wholesale price index
Prior release can be found here. Amid increasing cost/price pressures as a whole, German wholesale prices is estimated to tick higher once again and that maintains the narrative of higher inflation looking towards the end of Q3 and Q4.

0800 GMT - SNB total sight deposits w.e. 10 September
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

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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