Eurozone October CPI figures in focus
Good day, everyone! How are you doing today? Hope that all is well as we get into the European trading session ahead. There will be quite a number of items on the agenda to come but market focus remains that of risk sentiment despite the recovery in risk overnight. We've not yet seen a period of sustained calm in markets so until then expect jitters to remain.
0700 GMT - Germany September retail sales data
Prior release can be found here. General gauge of retail sentiment but this is very much a lagging data point as we already had preliminary growth figures from the Eurozone economy for Q3 yesterday. A minor data point.
0745 GMT - France October preliminary CPI figures
Prior report can be found here. Yesterday's German figures were upbeat and that is helping with the inflation rhetoric so let's see if French figures will add to that. A build up towards the Eurozone figures to be released later.
0800 GMT - Spain Q3 flash GDP figures
Q2 figures can be found here. A complement to the Eurozone report that we saw yesterday, not going to do much to change the overall perception of economic growth in the region at this point. But perhaps will provide some comfort if the figures here are a little upbeat.
0900 GMT - Switzerland October Credit Suisse investor sentiment survey
Prior release can be found here. The reading measures analysts' expectations on the Swiss economy and other economic expectations over the next 6 months. A minor data point and provides a rough indication of investor sentiment towards the global economy and current issues plaguing it.
1000 GMT - Eurozone September unemployment rate
Prior report can be found here. This very much mirrors the German labour market report which we saw yesterday. Low-tier data.
1000 GMT - Italy October preliminary CPI figures
As the release here comes at the same time as the Eurozone figures, it's very much negligible as focus will be on the core reading for the Eurozone report.
1000 GMT - Eurozone October preliminary CPI figures
Prior report can be found here. Focus will be on the core reading once again. Yesterday, we saw a good bump higher in the Saxony report and that is leaving markets to believe that inflation will rebound in October so let's see if the figures here supports the ECB's inflation outlook. Expectation is for the core reading to come in at +1.1% y/y. A decent beat will provide the euro with some temporary euphoria but it's no game changer just yet until it persists as a trend.
1100 GMT - US MBA mortgage applications w.e. 26 October
Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. Not the biggest of data points, but a general indicator of the housing sector sentiment.
That's all for the session ahead. I wish you all the best of days to come and as always, good luck with your trading!