German ZEW survey data for November in focus
Good day, everyone! Hope you’re all doing well as we look to get things going in the session ahead. So far today, the dollar is seen holding steady as major currencies are keeping within decent ranges still for the most part.
The kiwi has been dragged lower though after NZ data disappointed ahead of the RBNZ monetary policy decision tomorrow. Odds of a 25 bps rate cut are now at ~76% compared to the ~60% seen yesterday.
Looking ahead, the risk mood will once again be a key focus amid some data points to move things along during the session.
0730 GMT – Bank of France October industry sentiment indicator
Prior release can be found here. A general indication of sentiment towards the French industrial sector, not a major release by any means.
0930 GMT – UK September average weekly earnings
0930 GMT – UK September ILO unemployment rate
0930 GMT – UK October jobless claims change, claimant count rate
Prior report can be found here. Despite firmer wages data as of late, it hardly matters much as the BOE continues to find itself trapped amid the Brexit drama. The dovish tilt last week reaffirms such sentiment so the release later should mean little in the grand scheme of things for the pound.
1000 GMT – Germany November ZEW survey current situation, expectations
Prior release can be found here. Expectation is for a bit of a rebound in sentiment as US and China looks to be headed towards a “Phase One” deal. However, the overall outlook of the German economy remains bleak with a recession still very likely.
1100 GMT – US October NFIB small business optimism index
Prior release can be found here. This is an index which measures the opinion of small businesses on the economic conditions in the country. A minor data point.
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading!