- After gains on Wall Street, stock markets in Europe open higher, despite slightly weaker sentiment in Asia
- Slightly stronger German industrial orders data, surprising decline in France
- Less busy 'macro' calendar; Eurozone retail sales, claims, trade balance and Challenger report from the US
Today's investor sentiment is positive, as reflected in the EURUSD, which is trading up 0.3% today despite the lack of significant fundamentals supporting a strengthening of the euro. Today's macro calendar is fairly light, with no readings of the importance of yesterday's ISM data from the US. Germany's industrial orders fell -1.5% m/m, the market was expecting a -2% drop; the data came out slightly better, but still weak and the dominant narrative does not change; Germany's economy has seriously slowed down and the problem seems to be getting worse. Constructive PMIs from Europe performed very poorly; in Germany, the reading indicated 38 versus 42 previously. Investors will be watching oil closely, which may react to reports from today's OPEC+ conference.
Economic calendar
7:45 AM GMT French industrial production for November: -0.1% m/m vs. 0.3% forecast and -0.9% previously
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app10 AM GMT Eurozone retail sales for October: forecast 1.7% vs. 2.9% previously
- Retail sales m/m -0.3% vs 0.5% previously
11:30 AM GMT OPEC+ oil producers meeting
12:30 PM GMT Challenger report (U.S. lay-offs): previously 55k.
1:30 PM GMT US trade balance: forecast -$75 billion vs -$85 billion previously
1:30 PM GMT US unemployment claims: forecast 215k vs. 213k previously
3:30 PM GMT Change in US gas inventories according to EIA: -36 billion cubic feet (bcf) vs. 2 billion bcf previously
Central bankers speeches
- 10 AM GMT - ECB Vujcic
- 4:30 PM GMT - Fed Barkin
- 5 PM GMT - BoE Greene
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
