What's coming up on the economic data front today
Happy Monday, everyone! Hope you all had a good weekend. Finished up with your Xmas shopping? :D
Anyway, so far in Asia most major pairs are trading in small ranges - it's the week leading up to Xmas/New Year after all so there may be a hint of thin liquidity. So, here is what's coming up in the European session trading today:
0900 GMT - Italy October trade balance data
Not a very relevant data point as the Eurozone has already released their numbers two days back here. Also, the German and French economies matter more - so yeah. But just one to keep in your back pocket.
0900 GMT - SNB sight deposits data w.e. 15 Dec
Your weekly check of the deposits kept at the SNB by Swiss banks. This data point used to matter a bit more post-EUR/CHF floor removal, when people were looking for signs of intervention by the SNB - but we've all gotten used to that by now.
1000 GMT - Eurozone November CPI numbers
Inflation reading for the Eurozone. Look out for the core CPI number, the y/y is expected at +0.9%. Prior was also +0.9%. The nominal number shouldn't mean too much.
1100 GMT - UK December CBI trends total orders
A minor data point, basically a survey on manufacturers to rate the level of volume for orders expected during the next 3 months. A volatile statistic that doesn't offer much - futuristic reading. By right, should be an indicator of sentiment - but the data lacks consistency in my opinion - though it does show cyclical readings in general.
That's all for today. Nothing too major to be frank. Later on in the week we'll have the Bank of Japan meeting (21 Dec) - so that's your main central bank watch for the week.
As always, hope you all have a good day ahead and good luck in your trading!
