Economic calendar: US orders data and SNB's Jordan speech

• Derivatives point to slightly higher opening of today's cash session in Europe
• Better industrial sector profit data improved sentiment in Asia
• GfK data below forecasts, chance of improvement by end of year diminishes

Futures point to a slightly higher opening of today's cash session on the Old Continent. On the one hand, investors are reacting to the wave of selling sustained since the beginning of the week on the US stock market, but today its overtones were offset by slightly better data coming out of China. 

GfK data (07:00 am BST) on German consumer confidence came in worse than expected, largely erasing the chances of a rebound in 2023.

Source: GfK

Today's major macro events:

01:30 pm BST; US - Durable Goods Orders.

• Forecast: -0.5% m/m. Earlier: -5.2% m/m. 

01:30 pm BST; Czech Republic - CNB decision on interest rates.

• Forecast: 7.0%. Previously: 7,0%.

03:30 pm BST; US - Change in inventories according to the EIA.

• Oil. Forecast: -1.06 bbl. Earlier: -2.13 bbl.
• Gasoline. Forecast: -0.2 bbl. Previously: -0.83 bbl.
• Distillates. Forecast: -2.0 bbl. Previously: -2.87 bbl.

05:45 pm BST; Switzerland - Speech by the SNB governor.