- The market is focused on the situation of the Bank of Japan, which once again faced a possible policy change
- Contracts for European indices open slightly higher after rolling over and continue their rally
- New York County regional industry index and U.S. industrial production in focus
Today's session is not full of very significant economic data. The revision of inflation in France turned out to be higher than forecast, and the next important readings will only be data from the US market, where at 1:30 pm we will learn about import and export prices and the NY Fed regional index. After that, traders will focus on industrial production and consumer sentiment according to the University of Michigan, as well as inflation expectations, which for annual inflation are expected to show a slight increase.
In the Asian session, sentiment was mostly weak, with losses in Chinese and Korean indices and the Nikkei. Now, however, Japanese benchmark contracts (JAP225) are gaining, on a wave of further yen weakness. This is despite comments suggesting strong wage increases negotiated by Rengo unions and the government's determination to maintain the trend of rising wages. The market seems to expect a rather 'soft' BoJ stance and no clear determination to fundamentally overhaul existing policy; the USDJPY pair erased initial declines, further supported by a stronger US dollar.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appEconomic calendar
7 AM GMT, Swedish unemployment rate (seasonally adjusted): 8% vs. 8.2% forecast and 8.2% previously
7:45 AM GMT, CPI inflation y/y from France (final): 3% vs 2.9% in the first reading (0.9% m/m vs 0.8% previously)
- HICP y/y : 3.2% vs. 3.1% in the previous reading
9 AM GMT Italy HICP inflation y/y (final): 0.9% forecast vs. 0.9% previously
10 AM GMT Retail sales from Italy, -0.1% previously (0.3% seasonally adjusted)
12:15 AM GMT Canadian home construction starts: 227.5k vs. 223.3k previously
12:30 AM GMT Canadian wholesale sales: -0.6% forecast vs. 0.3% previous
12:30 AM GMT, NY Fed index: -7 forecast vs -2.30 previously
- Import prices: 0.3% forecast vs 0.8% previous
- Export prices: 0.4% forecast vs 0.8% previous
1:15 PM GMT, US industrial production: 0% forecast vs -0.1% previous
- Manufacturing production: 0.3% vs -0.5% previously
2 PM GMT, Consumer Sentiment by University of Michigan: 77.1 vs 76.9 previously
- Expectations Index: 75.1 vs 75.2 previously
- Current Situation Index: 79.7 vs 79.4
- Annual inflation expectations: 3.1% vs 3% previously
- Five-year inflation expectations: 2.9% vs. 2.9% previously
Central bankers speeches
- 9:35 AM GMT - ECB Vujcic
- 14:30 PM GMT - ECB Lane
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.
