US July NFIB small business optimism index 93.7 vs 91.5 priorThe risk mood continues to hold up, eyes on US PPI data laterGermany August ZEW survey current conditions -77.3 vs -75.0 expectedIEA makes no change to 2024 world oil demand growth forecast in latest reportEuropean equities open on a more positive note as risk mood breathes easier for nowSpain July final CPI +2.8% vs +2.8% y/y prelimWhat are the main events for today?Eurostoxx futures +0.2% in early European tradingJapan’s Nikkei extends recovery bounce, closes above 36,000UK June ILO unemployment rate 4.2% vs 4.5% expectedFX option expiries for 13 August 10am New York cutUK labour market report in focus in the session aheadUSD/JPY stays in recovery mode for now, eyes on US data later
Markets:
NZD leads, JPY lags on the dayEuropean equities lower;
S&P 500 futures +0.16%US 10-year yields down 13 bps to 3.902%Gold
down 0.35% to $2,463WTI
crude up 0.24% to $79.84Bitcoin
down 0.97% to $58786
The main
highlight in the European session was the release of the UK jobs report where
we saw a notable improvement in the unemployment rate although the data
continues to suffer from reliability issues.
We’ve also
got the German ZEW survey which surprised to the downside posting the biggest
decline in the past two years. In contrast, the situation indicator for the
eurozone improved marginally.
The focus
will now switch to the US PPI figures and Fed’s Bostic, but the main event
comes tomorrow when we will get the US CPI report.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
