December 8, 2022

Forex Solution

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Economic data coming up in the European session

2 min read

The countdown to the FOMC meeting continues

The dollar kept steadier and mixed in trading yesterday as it moved up against the yen amid a nudge higher in yields – which didn’t amount to much in the end.

10-year Treasury yields briefly climbed back above 1.50% but is still keeping below that for now, hovering around 1.484% currently as yields keep slightly lower.

USD/JPY did see a push back above 110.00 while other dollar pairs showed little poise to really break out of their recent range in the past few weeks.

Elsewhere, equities continue to look perky with the S&P 500 and Nasdaq seeing record closes, though the Dow slumped a little. US futures are up slightly today as market participants keep calm and stick with the script ahead of the Fed tomorrow.

With little key release to follow in Europe later, the grind continues.

0600 GMT – Germany May final CPI figures

The preliminary report can be found here. The final release today should just reaffirm what we already know i.e. growing price pressures in Europe and elsewhere.

0600 GMT – UK May jobless claims change, claimant count rate

0600 GMT – UK April ILO unemployment rate, employment change

0600 GMT – UK April average weekly earnings data

Prior release can be found here. It will still be a while before the market can really get a good read on underlying UK labour market conditions but at least things are still reflecting a road to recovery for the time being.

0645 GMT – France May final CPI figures

The preliminary report can be foundĀ here. The final release today should just reaffirm what we already know i.e. growing price pressures in Europe and elsewhere.

0900 GMT – Eurozone April trade balance data

Prior release can be found here. Overall trade conditions continue to improve as a trend and that will be the case when viewing this data set in the months ahead.

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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