- Futures point to higher opening in European stock markets
- Consumption data for major European economies (Germany, France) and retail sales (UK)
- Speech by central bankers of the European Central Bank
- The change in oil stocks according to the EIA is the focus of concerns for commodity investors.
Today’s session will not bring any meaningful macroeconomic readings. Secondary data will be presented with a virtually empty macroeconomic calendar from the United States. Volatility could be recorded in the oil market where data on the variation of reserves according to the American Energy Information Administration (EIA) will arrive at 4:30 p.m. and the markets expect a further drop in stocks both for oil and a little lower for gasoline. In the foreign exchange market today, we see a significant strengthening in the Australian dollar which was supported by higher than expected CPI inflation data, which unexpectedly rose to 4%, increasing the chances of a increase in interest rates at the next meeting. The market was expecting a smaller increase to 3.8% per year compared to 3.6% previously.
Macroeconomic calendar
8:45 a.m., France, household sentiment. Expectations: 89 Previously: 90
10:00, Switzerland, ZEW Expectations. Previous: 18.2
12:00, UK, Retail Sales (CBI). Expectations: 5 Previously: 8
4:00 p.m., US, new home sales. Expectations: 633 thousand Previously: 634 thousand.
4:30 p.m., USA, change in oil stocks according to the EIA. Expectations: -2.82 million barrels Previously: -2.54 million barrels
- Variation in gasoline stocks. Expectations: -1.5 million barrels compared to -2.28 million barrels previously.
- Variation in distillate stocks. Expectations: -1.05 million barrels versus -1.72 million barrels previously: -1.05 million barrels versus -1.72 million barrels previously
Speeches from central bankers
- 11h30 – BCE Rehnn
- 12h00 – BCE Panetta
- 12h40 – BCE Lane
- 13h45 – BCE Kazak
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