- European indices open little changed
- US PCE inflation seen decelerating in November
- Canadian GDP report for October due at 1:30 pm GMT
European indices launched today's trading little changed, with German DAX trading and French CAC40 trading flat at session open. Traders should keep in mind that liquidity conditions today may be thinner as this is the final pre-Christmas trading session. Some markets are already closed, while some - like for example UK stocks - will finish trading sooner than usual.
Nevertheless, there is a number of macro report scheduled for release today and they may keep markets moving. Revised data GDP data for Q3 from UK and Spain was already release with the former being revised lower and the latter coming in in-line with flash reading. Traders will be offered a US monthly data pack for November, including PCE inflation, in the early afternoon. Simultaneously, monthly Canadian GDP reading for October will be released as well as US durable goods orders report for November. Having said that, USDCAD traders should be prepared for a potential volatility spike in the early afternoon. Final University of Michigan data for December will be released at 3:00 pm GMT.
8:00 am GMT - Spain, GDP report for Q3 2023 (revision).
- Quarterly. First release: 0.3% QoQ
- Annual. First release: 1.8% YoY
9:00 am GMT - Poland, unemployment rate for November. Expected: 5.0%. Previous: 5.0%
1:30 pm GMT - US, data pack for November.
- PCE inflation. Expected: 2.8% YoY. Previous: 3.0% YoY
- Core PCE inflation. Expected: 3.4% YoY. Previous: 3.5% YoY
- Personal income. Expected: 0.4% MoM. Previous: 0.2% MoM
- Personal spending. Expected: 0.3% MoM. Previous: 0.2% MoM
1:30 pm GMT - US, durable goods orders for November.
- Headline. Expected: 2.3% MoM. Previous: -5.4% MoM
- Ex-transport. Expected: 0.2% MoM. Previous: 0.0% MoM
1:30 pm GMT - Canada, GDP report for October. Expected: 0.2% MoM. Previous: 0.1% MoM
3:00 pm GMT - US, new home sales for November. Expected: 686k. Previous: 679k
3:00 pm GMT - University of Michigan data for December (final).
- Consumer sentiment. First release: 69.4
- 1-year inflation expectations. First release: 3.1%
- 5-year inflation expectations. First release: 2.8%
Trading hour changes:
- UK100 - trading until 1:00 pm GMT
- HK.cash - trading until 7:00 pm GMT
- OIL - trading until 8:00 pm GMT
- LSGASOIL - trading until 8:00 pm GMT
BREAKING: Canadian core retail sales well below expectations🚩USDCAD reacts
Economic calendar: US gas inventory data, Canadian retail sales
Morning Wrap (23.10.2025)
Economic calendar: All eyes on earnings; EIA report and ECB speeches (22.10.2025)
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