Eurozone CPI in focus in a packed calendar in Europe
Happy Friday, everyone! And to all our US readers who are still away, I wish you a good break over the Thanksgiving holiday once again.
It’s been a quiet start to proceedings as currencies remain little changed, with the push and pull in the US-China trade rhetoric still casting a large shadow over markets for now.
Looking ahead, we’ll have quite a number of data points to navigate through in the European morning but all of which should have minimal impact on markets – barring any major surprises – ahead of what will be another holiday-thin trading over in North America.
0700 GMT – Germany October retail sales data
Prior release can be found here. An indication of consumption activity in the German economy. A minor data point but just be wary of any major beats/misses in case.
0745 GMT – France October consumer spending data
Prior release can be found here. A general read of consumption activity to start Q4 in France, a minor data point.
0745 GMT – France November preliminary CPI figures
Prior release can be found here. This will feed into overall inflation ahead of the Eurozone reading later, to be taken in alongside the German and Spanish readings yesterday.
0745 GMT – France Q3 final GDP figures
The preliminary release can be found here. As this is the final reading, it shouldn’t really offer much but just reaffirm economic conditions seen from the initial report.
0800 GMT – Switzerland November KOF leading indicator index
Prior release can be found here. The data here measures the future trends of overall economic activity in the Swiss economy. Low-tier data.
0855 GMT – Germany November unemployment rate, change
Prior release can be found here. Given the fact that there has been troubling signs surrounding the German labour market, this release may well overshadow the euro area CPI data if it continues to hint at more weakness later today.
0930 GMT – UK October mortgage approvals, credit data
Prior release can be found here. General read of credit conditions in the UK economy, which has continued to struggle amid Brexit and political uncertainty. A minor data point.
1000 GMT – Eurozone November preliminary CPI figures
Prior release can be found here. Inflation pressures are expected to keep more steady this month but the main thing to watch will be the core reading. If that holds up, it should provide more comfort for the ECB going into next year at least.
1000 GMT – Italy November preliminary CPI figures
Prior release can be found here. Focus will be on the overall Eurozone figures released at the same time. This will merely act as an accompaniment to that.
1000 GMT – Eurozone October unemployment rate
Prior release can be found here. Labour market conditions are still keeping tight over the last few months but as noted above with Germany, we may start to see some negative spillovers from the economic slowdown in the region. That will be one of the more key signs to watch in the coming months.
1100 GMT – Italy Q3 final GDP figures
The preliminary report can be found here. As this is the final release, it should just reaffirm sentiment of flattish growth in the Italian economy for the third quarter.
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading!
