All eyes are on the US CPI data coming up later today. And only that will shake off the more tentative mood in markets to start the new week so far. The dollar is keeping steadier as we look towards European trading but I wouldn’t expect much more fireworks until we get to the main event in US trading.
Looking to the European session, there will be some data releases to focus on as well at least. The UK labour market report is one, as it will feature a reweighted methodology as outline by ONS here.
In the note, they mention that “we expect to continue to see higher volatility in LFS data than might historically have been the case”. As such, the numbers that we get are likely to still have a bit of a caveat on them. The expectation though is that the jobs market should remain tight while wage pressures are seen easing.
Besides that, we will have Swiss inflation and the German ZEW survey as well on the agenda.
0700 GMT – UK January payrolls change
0700 GMT – UK December ILO unemployment rate
0700 GMT – UK December average weekly earnings
0730 GMT – Switzerland January CPI figures
1000 GMT – Germany February ZEW survey current conditions, outlook
1100 GMT – US January NFIB small business optimism index
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
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