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Trump expected to meet Macron during NATO summit
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OPEC Joint Technical Committee to review market fundamentals
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ECB members and nominees scheduled to speak today
Trade-related headlines
Donald Trump will be attending NATO summit in the United Kingdom over the next two days. As world leaders are often pressed by journalists during such events, traders should keep on guard and look out for any trade-related headlines. A point to note is that Donald Trump is also expected to meet with the French President Macron today so one should look out for new hints on US-France trade relationship.
OPEC prelude
OPEC cartel will meet on Thursday, December 5 in Vienna to discuss the future of output cut agreement. Similar talks will be held the next day (Friday, December 6) but this time with non-OPEC members, like Russia, participating as well. However, OPEC’s Joint Technical Committee will meet today to review markets’ fundamentals ahead of Thursday and Friday's meetings. Oil traders should follow news stream carefully as even comments from lower profile OPEC officials could trigger some moves on the crude market.
Data releases to watch today
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10:00 am GMT - Euro area, PPI inflation for October. Expected: -1.9% YoY, previous: -1.2% YoY
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9:40 pm GMT - API crude oil stockpiles. Expected: -0.9 mb
Central bankers’ speeches
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8:00 am GMT - ECB nominee Panetta
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8:15 am GMT - ECB’s de Cos
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9:15 am GMT - ECB nominee Schnabel
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1:30 pm GMT - Riksbank’s Jansson
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5:30 pm GMT - ECB’s Coeure
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7:10 pm GMT - RBNZ Governor Orr
