December 9, 2022

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Economic data coming up in the European session

2 min read

A couple of light releases to move things along

Dollar

The dollar remains a little vulnerable to start the week, with EUR/USD hovering around its 25 February high @ 1.2243 and that remains a key resistance point to watch for now.

GBP/USD is also closing back in on 1.4200 though further resistance is seen from the 24 February high @ 1.4241 so that will be one to be mindful about moving forward.

Major currencies are little changed for now though the dollar is keeping steadier after having seen USD/CNY near 6.40 before reports of intervention by China authorities.

US equities had a solid session yesterday with futures also keeping slightly higher for now, with the Fed continuing to pledge patience on policy and that inflation is likely to be transitory; though we’ll see if there is anything new during the week.

0600 GMT – Germany Q1 final GDP figures

The preliminary report can be found here. The final release today should not be of any impact as the market focus remains on the 2H 2021 outlook.

0800 GMT – Germany May Ifo business climate index

Prior release can be found here. Business sentiment is expected to pick up with expectations in particular likely to show marked increase in optimism considering the vaccine progress and recent virus trend over the past two weeks.

0800 GMT – SNB total sight deposits w.e. 21 May

Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

1000 GMT – UK May CBI retailing, total distributive reported sales

Prior release can be found here. The readings here are an indicator of short-term trends in the retail and wholesale sector of the UK economy. 

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.

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