A light day on the data docket as markets find some calm
Good day, everyone! Hope you're all doing well as we start to get into the European trading session ahead. Markets have regained some of their composure following the chaos at the start of the week but that doesn't mean that the coast is clear just yet.
Sentiment is still very much nervy but fear is starting to turn into greed again and that could be something that precipitates a risk-on mood in the sessions to come. The caveat though is that we still may have US-China trade headline risks during the week as China is preparing a delegation for meetings in Washington.
0600 GMT - Germany March factory orders data
Prior release can be found here. An indication of industrial orders in the German economy, which is expected to bounce back slightly after February's dismal slowdown. That said, a slight improvement here wouldn't change much as this is the March reading and feeds into Q1 data, in which we already know that the German manufacturing sector is sluggish.
0645 GMT - France March trade balance data
Prior release can be found here. General gauge of trade conditions in the French economy. Not a major release by any means.
0700 GMT - Switzerland April foreign currency reserves
Prior release can be found here. A glimpse at Swiss reserves held by the SNB. Nothing much to gather from the release here.
0730 GMT - Germany April construction PMI
Prior release can be found here. A gauge of construction activity in the German economy. A minor data point.
0730 GMT - UK April Halifax house prices data
Prior release can be found here. General indication of housing market sentiment in the UK economy. A minor data point.
But before we get to that, we'll have the RBA monetary policy decision at the bottom of the hour so expect good action in the aussie regardless of the outcome. Also, the European Commission is expected to release its latest set of economic forecasts at 0900 GMT.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading!