- After gains on Wall Street, stock markets in Europe open higher, despite slightly weaker sentiment in Asia
- Slightly stronger German industrial orders data, surprising decline in France
- Less busy ‘macro’ calendar; Eurozone retail sales, claims, trade balance and Challenger report from the US
Today’s investor sentiment is positive, as reflected in the EURUSD, which is trading up 0.3% today despite the lack of significant fundamentals supporting a strengthening of the euro. Today’s macro calendar is fairly light, with no readings of the importance of yesterday’s ISM data from the US. Germany’s industrial orders fell -1.5% m/m, the market was expecting a -2% drop; the data came out slightly better, but still weak and the dominant narrative does not change; Germany’s economy has seriously slowed down and the problem seems to be getting worse. Constructive PMIs from Europe performed very poorly; in Germany, the reading indicated 38 versus 42 previously. Investors will be watching oil closely, which may react to reports from today’s OPEC+ conference.
Economic calendar
7:45 AM GMT French industrial production for November: -0.1% m/m vs. 0.3% forecast and -0.9% previously
10 AM GMT Eurozone retail sales for October: forecast 1.7% vs. 2.9% previously
- Retail sales m/m -0.3% vs 0.5% previously
11:30 AM GMT OPEC+ oil producers meeting
12:30 PM GMT Challenger report (U.S. lay-offs): previously 55k.
1:30 PM GMT US trade balance: forecast -$75 billion vs -$85 billion previously
1:30 PM GMT US unemployment claims: forecast 215k vs. 213k previously
3:30 PM GMT Change in US gas inventories according to EIA: -36 billion cubic feet (bcf) vs. 2 billion bcf previously
Central bankers speeches
- 10 AM GMT – ECB Vujcic
- 4:30 PM GMT – Fed Barkin
- 5 PM GMT – BoE Greene
The material on this page does not constitute financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other specific needs. All information provided, including opinions, market research, mathematical results and technical analyzes published on the Website or transmitted To you by other means, it is provided for information purposes only and should in no way be construed as an offer or solicitation for a transaction in any financial instrument, nor should the information provided be construed as advice of a legal or financial nature on which any investment decisions you make should be based exclusively To your level of understanding, investment objectives, financial situation, or other specific needs, any decision to act on the information published on the Website or sent to you by other means is entirely at your own risk if you In doubt or unsure about your understanding of a particular product, instrument, service or transaction, you should seek professional or legal advice before trading. Investing in CFDs carries a high level of risk, as they are leveraged products and have small movements Often the market can result in much larger movements in the value of your investment, and this can work against you or in your favor. Please ensure you fully understand the risks involved, taking into account investments objectives and level of experience, before trading and, if necessary, seek independent advice.
