What's coming up on the calendar front
Howdy, everyone! It's NFP Friday this week - so expect things to be a little quiet ahead of the release later on in the US session. While the dollar was on the backfoot in trading yesterday, it's been performing rather decently in trading today - and by that I mean that losses have not been exacerbated.
Anyway, here is what's coming up in European trading for today:
0700 GMT - Germany Nov retail sales m/m & y/y
0745 GMT - France Dec consumer confidence
0745 GMT - France Dec flash/prelim CPI reading
0830 GMT - Germany Dec construction PMI
0910 GMT - France, Germany, Eurozone Dec retail PMI
Some Eurozone data from France and Germany, shouldn't be anything too major on the day - since we have NFP coming up later. EUR is still looking perky, so regardless the ultimate factor in trading on the day will be what the jobs report says.
0900 GMT - UK Dec new car registrations y/y
0930 GMT - UK Q3 unit labour costs y/y
For car registrations, it's another minor data point - something similar to the vehicle sales data from Japan earlier. Just an indicative insight into the auto sector - nothing too substantial. Meanwhile the unit labour costs gives an indicator on employment costs - a rough reflection of domestic inflation. Q2 reading was revised higher from 1.6% to 2.4% here.
1000 GMT - Italy Dec flash/prelim CPI reading
1000 GMT - Eurozone Dec flash/prelim CPI & PPI reading
The number to watch of course will be Eurozone core inflation reading. Though it may not impact the EUR too much on the day, this probably will give credence for macro traders to build a view on the EUR over the longer term. Prior Eurozone CPI readings can be found here.
That's about it from European trading. After that, we'll be moving on to the pre-NFP lull period. Hope you all have a nice day ahead and as always, good luck with your trading!
