- Contracts in Europe point to slightly higher opening of cash session on Thursday
- UK retail sales surprised with a much larger decline than forecasts
- Poor macro calendar for today - the final CPI readings from the Eurozone will be known at 10:00 BST
On the final day of the week, contracts point to a slightly higher opening of the session on European stock exchanges, with the DAX trading 0.2% higher with the CAC40 up 0.4%. However, the FTSE is losing 0.1% after disappointing retail sales data from the UK. Today's market sentiment will be shaped by issues not directly related to today's macro data releases.
Wall Street will learn before the session the Q2 financial results of powerful cosmetics holding Estee Lauder (EL.US, the market expects a loss of $0.03 per share on $3.5 billion in revenue) and heavy equipment manufacturer Deere (DE.US, the market expects record earnings of $8.2 per share), whose report will also be announced before the US session opens. Looking at the report of rival Caterpillar (CAT.US) two weeks ago, the report has a good chance of positively surprising. After the session, investors will learn the report of Palo Alto Networks (PANW.US), the publication may affect sentiment of companies in the cyber security and artificial intelligence market.
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7:00 AM BST - UK retail sales
- Headline y/y reading: -3.2% vs. -2.1% forecast and -1% previously (m/m: -.1.2%, - 0.6% forecast and 0.7% previously)
- Core y/y: -3.4% vs -2.4% forecasts and -0.9% previously (m/m: 1.4% vs -0.7% forecasts and 0.8% previously)
10:00 AM BST - Eurozone, final CPI and core inflation readings:
- CPI y/y expectations: 5.3% vs 5.3% previously (m/m: - 0.1% vs 0.3% previously)
- Core inflation expectations: 5.5% vs 5.5% previously
14:30 - Canada, PPI inflation:
- Expectations: 0.1% vs - 0.6% previously
Central bankers' speeches
- ECB Lane - 9:00 AM BST
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