EUROPEAN SESSION
In the European session, we don’t have much on the agenda other than a couple of low tier releases like the French consumer confidence and the final Spain Q4 GDP. None of the data will change anything for the market or the ECB.
The focus remains on the US-Iran war. Iran rejected the ceasefire proposal yesterday but Trump continues to push into that direction. Time will tell whether this was just a strategy to keep markets calm while the US prepared for a ground invasion. The ceasefire announced on Monday expires tomorrow.
AMERICAN SESSION
In the American session, the only highlight is the US jobless claims data. Initial claims are expected at 210K vs 205K prior, while continuing claims are seen at 1851K vs 1857K prior.
This is the timeliest labour market data we have, so a clear deterioration could exacerbate growth fears and lead to risk aversion in the markets.
CENTRAL BANK SPEAKERS
- 09:00 GMT/05:00 ET – ECB’s de Guindos (neutral – voter)
- 09:30 GMT/05:30 ET – BoE’s Breeden (neutral – voter)
- 16:00 GMT/12:00 ET – BoE’s Taylor (dovish – voter)
- 16:00 GMT/12:00 ET – BoC’s Rogers (neutral – voter)
- 16:30 GMT/12:30 ET – BoE’s Greene (hawkish – voter)
- 20:00 GMT/16:00 ET – Fed’s Cook (neutral – voter)
This article was written by Giuseppe Dellamotta at investinglive.com.
