-
European indices set for flat opening
-
Trade balance data from US and Canada, API report on oil stockpiles
-
German industrial orders snap a 2-month losing streak
Futures markets point to a more or less flat opening of the European cash session today. DAX futures trade less than 10 points below yesterday's cash close. This comes after a mixed trading during the Asian session where regional indices failed to find a common direction. Risk on flows can be spotted on the FX market with AUD and GBP being G10 top performers while safe havens, like CHF and JPY, lagged. Energy commodities trade mixed with oil gaining and natural gas dropping.
Economic calendar for the day ahead is light. Traders will be offered trade balance data from North America as well as API reports on US oil inventories. German industrial orders data for October was released today at 7:00 am GMT. Market expected a 0.2% MoM increase but actual data showed a 0.8% MoM jump. This comes after a 2.9% MoM drop in September (revised higher from -4.0% MoM) and a 2.0% drop in August. Having said that, an increase in orders is a welcome development but a single data point is not enough to jump to the conclusions that fortunes in the German economy are turning.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app1:30 pm GMT - US, trade balance for October. Expected: -$80.0 billion. Previous: -$73.3 billion
1:30 pm GMT - Canada, trade balance for October. Expected: C$1.1 billion. Previous: C$1.14 billion
9:40 pm GMT - API report on US oil inventories. Expected: -0.5 mb. Previous: -7.85 mb
Central bankers' speeches
-
6:00 pm GMT - ECB Centeno
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.
