EUROPEAN SESSION
In the European session, the main highlight was the UK Q4 GDP report. The data was slightly weaker than expected but didn’t change materially the current BoE outlook, so the market reaction was limited. We don’t have much on the agenda for the rest of the session, so the price action will likely be rangebound as we await the US CPI report coming up tomorrow.
AMERICAN SESSION
In the American session, the only highlight is the US Jobless Claims data. Initial Claims are expected at 222K vs 231K prior, while Continuing Claims are seen at 1850K vs 1844K prior. We just got a strong NFP report yesterday (that was surprisingly ignored by the market) so it’s unlikely that Jobless Claims will change much. We will likely need big deviations like Continuing Claims falling below 1800K or Initial Claims jumping above 260K to trigger a reaction.
CENTRAL BANK SPEAKERS
- 09:00 GMT/04:00 ET – ECB’s Cipollone (neutral – voter)
- 13:45 GMT/08:45 ET – BoC’s Rogers (neutral – voter)
- 15:50 GMT/10:50 ET – ECB’s Stournaras (neutral – voter)
- 15:50 GMT/10:50 ET – ECB’s Lane (neutral – voter)
- 15:50 GMT/10:50 ET – ECB’s Radev (neutral – voter)
- 19:30 GMT/14:30 ET – ECB’s Nagel (neutral – voter)
This article was written by Giuseppe Dellamotta at investinglive.com.
