Economic calendar: light calendar ahead 📌

• Markets lose on another day of the new year
• Retail sales and CPI from Switzerland

At the beginning of the new week, index futures suggest a lower opening for the cash session in the Old Continent. Today, we observe declines in many assets, and the dollar is gaining slightly.

The macroeconomic calendar is quite light and does not abound in any events that could affect the global market. In the first part of the day, we already learned about the trade balance and factory orders from Germany. Next, we will learn about retail sales and CPI from Switzerland. Expectations indicate low inflation readings (1.5% y/y) and no changes in the month-on-month terms for retail sales.

Detailed calendar of the day:

07:00 GMT, Germany - Balance of Trade Data for November:

• German Exports: forecast 0.3% MoM; previous -0.2% MoM;
• German Factory Orders: forecast 1.0% MoM; previous -3.7% MoM;
• German Imports: forecast 0.2% MoM; previous -1.2% MoM;
• German Trade Balance: forecast 17.9B; previous 17.8B;

07:30 GMT, Switzerland - Retail Sales Data for November:

• Retail Sales: forecast 0.0% YoY; previous -0.1% YoY;

07:30 GMT, Switzerland - Inflation Data for December:

• CPI: forecast -0.2% MoM; previous -0.2% MoM;
• CPI: forecast 1.5% YoY; previous 1.4% YoY;

09:30 GMT, Euro Zone - Sentix Investor Confidence for January:

• forecast -15.5; previous -16.8;

10:00 GMT, Euro Zone - Retail Sales Data for November:

• Retail Sales: forecast -0.3% MoM; previous 0.1% MoM;
• Retail Sales: forecast -1.5% YoY; previous -1.2% YoY;