A couple of data points to reaffirm inflation pressures
The dollar is trading to its highest levels since July last year, with the dollar index itself breaching 95.00 and multiple charts also reaffirming a technical bias that is favouring the greenback as we look to round off the week.
I don't expect things to change much for now as the technical plays run their respective courses, with bond yields keeping higher still for the time being.
Equities are keeping fairly resilient though with US futures pointing a touch higher once again after a bit of a mixed showing in trading yesterday.
There isn't much in terms of data releases to really shake things up so expect the bond market to provide dictate sentiment before the weekend hits.
0700 GMT - Germany October wholesale price index
General indication of cost/price pressures in the German economy, which provides some idea of the translation of higher prices to consumers down the road.
0730 GMT - Switzerland October producer and import prices
Prior release can be found here. A read on cost/inflation pressures in the Swiss economy, which should reaffirm the ongoing narrative across the globe.
0800 GMT - Spain October final CPI figures
The preliminary report can be found here. The final reading should just reaffirm the highest annual inflation reading in Spain since 1992, keeping with the latest narrative that price pressures are soaring across Europe towards the year-end.
1000 GMT - Eurozone September industrial production data
Prior release can be found here. A bit of a lagging data point but one that should reaffirm more sluggish conditions amid supply bottlenecks and capacity constraints.
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
