A preview of what is to come in the European trading session

Howdy, everyone! Hope you're all doing fine today. It's been a lively start to the trading day, with the rout in bonds spreading over to equities today. On the FX front, that has seen USD/JPY siding with the fall in equities and heading lower on the day after an initial spike upwards from higher yields.

Anyway, it's quite a packed calendar today so let's get right into it:

0630 GMT - France Q4 preliminary GDP

Expected at +0.6% q/q and +2.3% y/y. Prior reading can be found here. If within expectations, it's yet another strong reading - but will largely not have an impact on the market.

0700 GMT - Switzerland December trade balance data

A minor data point on the day, not one that markets pay all too much attention to. Prior report was here.

0745 GMT - France December consumer spending data

Also a minor data point, a rough gauge of consumer sentiment in one of the Eurozone's major economies. Prior reading can be found here.

0800 GMT - Switzerland January KOF leading indicator

A general sentiment indicator of the Swiss economy, not a major data point by any means. Here was the reading in December.

0800 GMT - Spain Q4 preliminary GDP

Expected at +0.7% q/q and +3.2% y/y. Prior reading can be found here. Not a major data point on the day.

0900 GMT - Italy January business and consumer confidence levels

General indicators for consumer and business sentiment, a minor data point. Prior readings can be found here.

0930 GMT - UK December credit growth data (mortgage approvals, net consumer credit, M4 money supply)

Prior figures can be found here. Not the most exciting of data points, and one that traders usually don't harp on really.

1000 GMT - Eurozone Q4 preliminary GDP

Expected at +0.6% q/q and +2.7% y/y. Prior reading can be found here. Probably one of the more relevant ones to watch out for on the day, but usually doesn't impact markets all too much on the headline.

1000 GMT - Eurozone January final consumer confidence level

Preliminary reading can be found here. Also comes along with business climate indicator, industrial, services, and economic confidence levels. Prior readings can be found here. Generally, not a major data point but a sentiment indicator of the level of optimism in the Eurozone.

1300 GMT - Germany January preliminary CPI data

Arguably the most relevant data point on the day. I highlighted more on this as well as all the state CPI releases during the day here.

In addition to that, we'll have BOE governor Mark Carney making an appearance at the House of Lords Economic Affairs committee at 1530 GMT as well as ECB member Yves Mersch speaking at Goethe University (not sure what topic is this on) at 1600 GMT.

That's all for today. It's a jam-packed one but mostly with minor data points. I hope you all have a great day ahead, and as always, good luck with your trading!

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