Today's macroeconomic calendar could drive volatility primarily in EUR/USD, government bonds, and natural gas. Investors will focus on Germany's trade data, the ECB Meeting Minutes, and the weekly U.S. labor market report. Later in the day, attention will shift to U.S. existing home sales, the EIA natural gas storage report, speeches from Fed and Bank of England officials, while PepsiCo (PEP.US) will unofficially kick off the U.S. earnings season.
Macro calendar
AM GMT – Germany – Trade Balance (Seasonally Adjusted)
Actual: EUR 19.1B | Forecast: EUR 14.8B | Previous: EUR 14.5B
7 AM GMT – Germany – Imports MoM (Seasonally Adjusted)
Actual: -2.5% | Forecast: -0.8% | Previous: +1.2%
7 AM GMT – Germany – Exports MoM (Seasonally Adjusted)
Actual: +0.9% | Forecast: -0.4% | Previous: +0.9%
12:30 PM GMT – Eurozone – ECB Meeting Minutes
1:30 PM GMT – United States – Initial Jobless Claims
Forecast: 217K | Previous: 215K
1:30 PM GMT – United States – Continuing Jobless Claims
Forecast: 1.814M | Previous: 1.814M
3:00 PM GMT – United States – Existing Home Sales
Forecast: 4.20M | Previous: 4.17M
3:00 PM GMT – United States – Existing Home Sales MoM
Forecast: 1.0% | Previous: 3.2%
3:30 PM GMT – United States – EIA Natural Gas Storage Change
Forecast: 58 billion cubic feet | Previous: 87 billion cubic feet
Central bank speakers
- 2 PM GMT – United States – John Williams (Federal Reserve)
- 5 PM GMT – United States – Michael Barr (Federal Reserve)
- 6:30 PM GMT – United States – Christopher Waller (Federal Reserve)
- 8:30 PM GMT – United Kingdom – Andrew Breeden (Bank of England)
Earnings
- 11 AM GMT – PepsiCo (PEP.US) – Quarterly earnings release
EUR/USD and PepsiCo (D1 chart)
EUR/USD is trading below both the 200-day and 50-day exponential moving averages (EMA200 and EMA50, shown by the red and orange ribbons), indicating that the broader downtrend remains intact.
Source: xStation 5
PepsiCo shares have fallen nearly 20% from their recent highs and are currently trading about USD 5 below the EMA200. A strong earnings report could lift the stock back above this key technical level and support a trend reversal. Key support is currently located around USD 130–132 per share, where the stock previously found buying interest, while the major resistance lies in the USD 147–150 range. A decisive breakout above that resistance could open the way for a move toward USD 170 per share.
Source: xStation 5
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