- European stock market opens slightly lower
- Ifo data from Germany are the most important macro reading, scheduled today
- Light calendar of macro publications
Today's session is very light on the macroeconomic data side, with practically one significant reading, the Ifo index, which measures sentiment among German businesses. After yesterday's dismal PMI data from German industry and slightly higher-than-forecast services, there is still the potential for negative disappointment, looking at expectations that suggest improvement in each of the three key indicators, except for the current assessment.
The publication could also affect Eurodollar volatility. An hour after the publication, Bundesbank chairman Joachim Nagel will also speak. The previously published Swiss employment change data came in above forecasts. In the absence of a busy macro calendar, investors will focus today on company results and speeches by central bankers, although here too the calendar is not full of significant readings; most key US companies have already reported their results.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appMacro calendar:
10 AM GMT, Change in non-farm employment (Switzerland): 5.488 million vs. 5.465 million previously
11 AM GMT, Ifo Index (Germany)
- Expectations: 84 forecast vs. 83.5 previously
- Current situation: 86.8 forecasts vs 87 previously
- Business climate: 85.5 forecasts vs. 85.2 previously
11 AM GMT, Eurozone inflation expectations (ECB)
Central bankers speeches
- 09:20 AM GMT - ECB, Schnabel
- 10:00 AM GMT- Bundesbank, Nagel
- 1 PM GMT - ECB, Schnagel
- 6:30 PM GMT - Fed, Daly
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.
