- European markets set to open higher
- German ZEW index
- API report on oil inventories
Futures markets point to a higher opening of today's cash trading session in Europe as fears around the Omicron variant at least momentarily eased after US infectious disease official Dr. Anthony Fauci said that the initial data on the new variant was “encouraging.” There are not too many things on the calendar that may contribute to a jump in volatility. Among the noteworthy ones we can find the German ZEW index. For the Eurozone, third estimate GDP numbers for the third quarter are also due out, however this should have limited impact on the major currency pair. US productivity and labor costs data is usually ignored by the markets. API report on oil stocks may trigger some volatility in the afternoon.
- 10:00 am GMT - Euro area, GDP for Q3 2021 (third, final release). Second release: 2.1% QoQ
- 10:00 am GMT - Germany, ZEW Economic Sentiment index for December. Expected: 25.1. Previous: 31.7
- 1:30 pm GMT - US, trade balance for October. Expected: -$66.8 billion. Previous: -$80.9 billion
- 1:30 pm GMT - US Nonfarm Productivity QoQ Final for third quarter. Expected: -4.9% . Previous: 2.4%
- 1:30 pm GMT - US Unit Labour Costs QoQ Final for third quarter. Expected: 8.3%. Previous: 1.1%
- 9:30 pm GMT - API report on oil inventories. Previous: -0.747 million barrel
