A light day on the data docket to start the week
Happy Monday, everyone! Hope you're all doing well as we get things started on the new week. The focus to start the day has been the abysmal Chinese trade balance data earlier. The figures were really poor and only further reinforces the rhetoric that the global economy is seen to slow down further this year.
The calendar day today is rather void of economic releases so trading will center around the ebb and flow for the most part. So, let's see what we have coming up in the session ahead.
0700 GMT - Germany December wholesale price index
The index measures the value of sales made by wholesalers in Germany, it provides an indicator of consumption and retail pattern. Domestic demand should hold up as it is factory activity and exports that have been the drag in the German economy. Low-tier data.
0900 GMT - SNB total sight deposits w.e. 11 January
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
1000 GMT - Eurozone November industrial production data
Prior release can be found here. An indication of factory activity in the Eurozone economy but the impact here should be rather muted as we already had German and French readings last week.
That's all for the European session to come today. Aside from the above, we may also get more Chinese data to come but it could also be set to be released tomorrow, so just a heads up. I wish you all a great day ahead and good luck with your trading!
