December 9, 2022

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Economic data coming up in the European session

2 min read

German inflation in focus today

Germany

Major currencies didn’t do a whole lot to start the new week though the dollar and yen are continuing to hold its ground, with the latter getting a boost as 10-year Treasury yields fall back below 1.50% yesterday.

With little in terms of key headlines, it may be tough to read into the moves over the next two days as rebalancing flows amid month-end and quarter-end may be part and parcel of the equation across the market.

Equities are still looking perky though but other risk trades are more tentative it seems.

Looking ahead, German inflation will be the release to watch with near-term levels still holding up well for the dollar against the likes of the euro and pound for now.

0600 GMT – UK June Nationwide house prices

Prior release can be found here. UK house prices are estimated to keep at record highs with the exuberance still flowing amid the rush by homebuyers before the stamp duty holiday ends at the end of this month.

0645 GMT – France June consumer confidence

Prior release can be found here. A slight improvement in consumer confidence is anticipated with economic conditions likely to show further improvement going into the summer amid the more optimistic virus situation.

0830 GMT – UK May mortgage approvals, credit data

Prior release can be found here. Mortgage activity is expected to keep more robust while credit conditions should continue to reflect some pickup with the annual consumer credit growth likely to improve further amid base effect adjustments.

0900 GMT – Eurozone June final consumer confidence

0900 GMT – Eurozone June economic, industrial, services confidence

Prior release can be found here. Broad economic confidence in the euro area is estimated to see a slight improvement with hopes and optimism brimming ahead of the summer.

1200 GMT – Germany June preliminary CPI figures

Prior release can be found here. The estimate is for the annual reading to reflect a +2.3% y/y estimate, showing a slight moderation to May. But overall, inflation pressures are still high with base effects starting to fade out though we’ll only get a clearer picture of what is “persistent” per se once we get into the latter stages of 2H 2021.

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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