Economic calendar: Chinese protests, ECB and Fed member speeches

• European markets trade lower

• Anti-Covid, anti-government protests in China spark risk-aversion

• Powell's speech and US jobs data later in the week

Risk-off moods can be spotted on the global stock markets at the beginning of a new week with weekend anti-lockdown, anti-government protests in China being cited as a reason. Safe haven flows can also be spotted at the FX market with JPY and CHF being G10 top performers. Oil is also taking a big hit after US authorized Chevron to resume operations in Venezuela and Iraq announced plans to increase its oil export capacity. 

Economic calendar for the day ahead is almost empty. There are a number of central bankers' speeches scheduled but not a single top-tier macro reading. Central bankers and the aforementioned protests in China, and their implications, may be key drivers of the moves in the markets today.

Central bankers' speeches

• 8:00 am GMT - ECB Knot

• 9:30 am GMT - ECB De Focs

• 11:25 am GMT - ECB McCaul

• 1:25 pm GMT - ECB President Lagarde

• 5:00 pm GMT - Fed Williams & Bullard

• 5:10 pm GMT - ECB Nagel

Top events to watch in the remainder of the week

Tuesday

• 8:00 am GMT - Spain, flash CPI inflation for November

• 1:00 pm GMT - Germany, flash CPI inflation for November

• 1:30 pm GMT - Canada, GDP report for Q3 2022

• 3:00 pm GMT - US, Conference Board consumer confidence index for November

• 9:40 pm GMT - API report on oil inventories

Wednesday

• 1:00 am GMT - China, PMIs for November

• 7:45 am GMT - France, flash CPI inflation for November

• 9:00 am GMT - Poland, flash CPI inflation for November

• 10:00 am GMT - Euro area, flash CPI inflation for November

• 1:15 pm GMT - US, ADP employment report for November

• 3:30 pm GMT - DOE report on US oil inventories

• 6:30 pm GMT - Powell's speech

Thursday

• Final manufacturing PMIs for November from Europe and the United States

• 1:30 pm GMT - US, core PCe inflation for October

• 3:00 pm GMT - US, ISM manufacturing for November. Expected: 49.8. Previous: 50.2

• 3:00 pm GMT - US, construction spending for October. Expected: -0.2% MoM. Previous: 0.2% MoM

Friday

• 1:30 pm GMT - US, NFP report for November

• 1:30 pm GMT - Canada, jobs report for November