EU mid-market update: optimism that the recent Biden/Xi assembly will be gradual; UK salary knowledge reaches its highest point in a year; The German ZEW survey is improving.
Japan’s GDP in the third quarter overnight is particularly absent and measures the contraction of the annualized quarter: -1. 2% versus the estimated 1. 2%.
– The ZEW surveys of Germany and the Eurozone have exceeded the consensus of innovations but in notable negative territory.
Geopolitical news revolves around the G20 summit and the recent Biden/Xi assembly, which was slower and more moderate than expected, highlighting some threat to stability-based sentiment between U. S. -China relations.
– Unemployment in the UK in September increased, but with emerging wages as a silver lining. The UK is in the spotlight for the next 48 hours with a record 40-year CPI expected tomorrow and an autumn budget on Thursday with a slew of tax increases and spending cuts planned.
– Asia closed higher with Hang Seng beating by 4. 1%. EU indices are combined flat. U. S. futures The U. S. is between 0. 4% and 1. 0%. Gold 0. 1%, DXY -0. 4%; Raw material: Brent -1. 1%, WTI -1. 5%, UK Nat Gas 13. 5%; Crypto: BTC 0. 2%, ETH 0. 2%.
– Japan’s initial Q3 Q/Q/Q: -0. 3% v 0. 3%e; Quarterly GDP Q/Q: -1. 2% v 1. 2%e.
– The Reserve Bank of Australia’s (RBA) November minutes noted that the board saw compatibility to be consistent with policy after a 25 basis point increase in October. He reiterated the position that the council is not on a predefined path.
– October industrial production in China: 5. 0% 5. 2%e.
– October retail in China year-on-year: -0. 5% vs. 0. 7%e.
– Constant urban assets in October in China since the beginning of the year: 5. 8% versus 5. 9%e.
– Sales of residential homes in October since the beginning of the year in China: -28. 2% compared to -28. 6% previously.
– Unemployment surveyed in October in China: 5. 5% versus 5. 5%e.
China’s PBoC achieved CNY850B CNY1. 0T maturing on a one-year medium-term loan facility (MLF) with unchanged yield of 2. 75%.
China’s National Bureau of Statistics (NBS) has reiterated its position of balancing COVID controls and economic development. He reiterated that the foundations for economic recovery were still solid. The economic recovery has slowed due to Covid outbreaks.
– Villeroy (France) of the ECB said it was transparently approaching normalization diversity of around 2. 00%. A favourable condition for halting rate hikes would be transparent symptoms of a turnaround in core inflation. He noted that imaginable rate hikes would be less competitive after the December meeting.
Prime Minister Sunak has indicated that he will apply the “triple lock-in” of the British state pension.
British Chancellor Hunt said he accepts advice to raise the living wage from £9. 50 to ~£10. 40. The accumulation of approximately 10 per cent would benefit 2. 5 million people.
The British Chancellor has said he plans a 40% tax on British electricity manufacturers on their yields above a safe value equivalent to megawatt hours.
Fed Vice Chairman Brainard said fundamentals and housing in particular remained strong; It would probably soon be appropriate to move at a slower speed in increases. The Fed had done a lot, but it still had more to do.
– Fed Vice Chairman for Supervision Barr said the U. S. economic outlook was not expected to be a major economic outlook. UU. se has weakened amid tighter monetary conditions. One of the priorities to monitor the threat of crypto-asset activities. The Fed puts more emphasis on threats to liquidity, credit and interest rates.
– The International Brotherhood of Boilermakers (BWI) has ratified the collective agreement of the railway union; 3rd union out of 12 to reject the deal negotiated through the White House.
Indices [Stoxx600 -0. 02% to 432. 78, FTSE 0. 09% to 7,391. 72, DAX -0. 13% to 14,295. 14, CAC-40 0. 35% to 6,632. 23, IBEX-35 -0. 34% to 8,138. 60, FTSE MIB -0. 21% to 1,010. 5% , Futures S
Market focal points/key themes: European indices open higher but then turn to industry in combination; The sectors that lead to the rise are real estate and money services; lagging sectors come with telecommunications and energy; oil and fuel subsector under stress after crude costs fell following OPEC’s monthly report; the telecoms sector and the FTSE driven by Vodafone’s disappointing results; Credit Suisse sells part of its SPG portfolio to Apollo; Intesa Sanpaolo sells its stake in Nexi; Expected gains in the upcoming U. S. consultationThe U. S. comes from Alcon, Home Depot, Walmart and Advance Auto Parts.
– Discretionary consumption: Aston Martin Lagonda [AML. UK] -11% (analyst share).
– Basic consumption: Imperial Brands [IMB. UK] 1. 5% (profits).
– Energy: Nordex [NDX1. DE] -1% (profits; declining outlook).
– Finance: Credit Suisse [CSGN. CH] -2% (divestment).
– Health: Ambu [AMBUB. DK] -12% (gains).
– Industry: BAE Systems [BA. UK] 3. 5% (upgrade), DX Group [DX. UK] 10% (results; chairman retires).
– Technology: SimCorp [SIM. DK] -5% (profit).
– Telecommunications: Vodafone [VOD. UK] -6% (earnings; declining outlook).
– Ireland Foreign Min Coveney saw encouraging signs that London was serious about talks on the Northern Ireland Protocol and believed that an agreement could be reached by the end of the year.
– President Biden spoke at the G20 in Bali and that he would emerge stronger from the pandemic.
– President Biden met with Turkish President Erdogan on the sidelines of the G20; NATO grain and the Black Sea.
– The governor of the Central Bank of Russia (CBR), Nabiullina, noted that the national GDP in 2022 is expected to decline by 3. 0 to 3. 5% in its baseline scenario, with an expected expansion from the current part of 2023. The value point increases may be higher for some time as the economy rebuilds.
– Russian Foreign Minister Lavrov said that the G20 proposes discriminatory barriers in energy markets; Conclude an agreement with the UN on Russian grains and fertilizers in exchange for the removal of barriers.
German economists at ZEW noted that the improvement in November knowledge is likely to be similar to hopes that inflation rates will fall soon. The domestic economic outlook remained markedly negative.
The IEA’s monthly oil report noted that oil markets were facing tensions with inventories at their lowest level in 18 years. The method of EU embargoes on Russian imports of crude oil and petroleum products and the ban on maritime transport would put additional pressure on the global oil balance. A proposed oil price cap could help ease tensions, but many uncertainties and demanding logistical situations remain.
– According to UN estimates, the world’s population has reached 8 billion other people; The world has added 1 billion more people since 2011.
– The USD softened thanks to a boost in global confidence during the session. Analysts noted that a prominent position in the photo between Xi and Biden on the front page of China’s main official newspaper said a lot that Beijing believed its relations with Washington could improve. The dollar also weighed in after the Fed’s Brainard signaled it would most likely slow down interest rate hikes next month.
GBP/USD rises after UK wage data recorded its fastest speed in over a year. The focus is on the CPI data released on Wednesday and Thursday on the fall budget.
– USD/JPY was first higher after Japan’s third-quarter GDP data. Analysts cited a weak yen and higher inflation that have eroded the purchasing power of Japanese consumers and undermined business strength. However, the yen has left its most productive point as a threat. appetite discovered positive vibes at the recent Biden/Xi G20 meeting.
– (SE) Sweden Oct PES Unemployment rate: 3. 1% with 3. 1% previously.
– (NO) Norway Q4 Consumer confidence: -38. 0 vs. -29. 5 before.
– (FI) Finland Seven GDP Y/Indicators – 1. 6% to 1. 7% before – 01:30 France ILO third quarter unemployment rate: 7. 3% to 7. 4% earlier; Continental unemployment rate: 7. 1% to 7. 2% previously.
– (DE) Germany Oct. Wholesale value index M/M: -0. 6% compared to 1. 6% previously; And/Y: 17. 4% vs 19. 9% before.
– (UK) Change in unemployment benefit claims in October: 3. 3K vs 3. 9K earlier; Applicant count rate: % vs. 3. 9% before.
– (UK) Average weekly earnings in September 3M/Y: 6. 0% vs. 5. 9%e; Weekly earnings 3M/Y (excluding bonuses): 5. 7% vs. 5. 5%e.
– (United Kingdom) Unemployment rate of seven ILOs: 3. 6% to 3. 5%e; Change of use 3M/3M: -52K v -25Ke.
– (SE) Sweden Oct IPC M/M: 0. 2% 0. 4%e; A/A: 10. 9% versus 11. 1%e; CPI level: 384. 04 versus 384. 49.
– (SE) Sweden Oct CPIF M/M: -0. 1% versus 0. 2% e; A/A: 9. 3% vs. 9. 8%e.
– (SE) Sweden Oct CPIF (excluding energy) M/M: 0. 9% 0. 5%e; Yo/W: 7. 9% vs. 7. 6%e.
– (DK) Denmark’s Q3 GDP Measure Q/T: 0. 5% to 0. 7% earlier.
– (DK) Denmark Oct. PPI M/M: is not v -3. 2% v -1. 9% earlier; And/Y: 22. 3% vs 28. 5% before.
– (RO) Romania Q GDP advance t/t (1st reading): 1. % v -1. 5%e; Yo/Y: 4. 0% vs. 5. 6%e.
– (FR) France Oct CPI final M/M: 1. 0% 1. 0% preliminary; and/y: 6. 2% vs 6. 2% initial; CPI index (excluding tobacco): 113. 16 v 113. 19e.
– (FR) France Oct CPI final EU Harmonized M/M: 1. 2% 1. 3% preliminary; And/Y: 7. 1% vs. 7. 1% preliminary.
– (HU) Hungary’s Q3 initial GDP Q/T: -0. 4% v -0. 1%e; A/A: 4. 0% vs. 4. 7%e.
– (TR) Turkey October Central government budget balance (TRY): -83. 3 billion to -78. 6 billion earlier.
– (ES) Spain Last October CPI M/M: 0. 3% compared with 0. 4% preliminary; And/Y: 7. 3% versus 7. 3% preliminary.
– (ES) Spain Oct Final CPI EU Harmonized M/M: 0. 1% 0. 1% prelim; And/Y: 7. 3% versus 7. 3% preliminary.
– (ES) Spain Oct Core CPI M/M: 1. 0 0. 2% earlier; CPI Core (final) Y/Y: 6. 2% vs. 6. 2% preliminary.
– (NL) The Netherlands’ initial GDP Q3 Q/Q: -0. 2% versus 0. 0%e; Yo/Y: 3. 1% vs. 3. 9%e.
– (NL) Balance sheet of Dutch industry in September: EUR 8. 4 billion compared with EUR 4. 4 billion previously.
– (NL) Consumer expenditure in the Netherlands in September: 2. 2% compared with 1. 8% previously.
– (PL) Poland’s initial Q3 Q/T GDP: 0. 9% compared with 0. 0%e; A/Y: 3. 5% vs. 3. 4%e.
– (PL) Poland CPI end of October MoM: 1. 8% compared to the initial 1. 8%; And/Y: 17. 9% vs. 17. 9% preliminary.
– (IS) Iceland October International Reserves (ISK): 878B 886B before.
– (IT) Italy September General Government Debt: €2,742,000 to €2,758,000 before.
– (DE) German ZEW Current Situation Survey for November: -64. 5 versus -68. 6e; Survey of expectations: 36. 7 v -52. 0e.
– (EU) ZEW survey on expectations of euro dominance in November: -38. 7 versus -59. 7 previously.
– (EU) Preliminary GDP of the euro in Q3 (2nd reading) QoQ: 0. 2% compared with 0. 2% growth; A/A: 2. 1% vs. 2. 1% advance.
– (EU) Euro Q3 domain Preliminary employment Q/T: 0. 2% to 0. 4% earlier; And/Y: 1. 7% vs 2. 7% before.
– (EU) Euro domain industry balance of seven (seasonally adjusted): -€37. 7 billion versus €-42 billion; NSA industry balance (unadj): – -€34. 4 billion compared to -€50. 9 billion previously.
– (CY) Cyprus Q3 initial GDP Q/Q: 1. 3% 0. 3% earlier; And/Y: 5. 5% vs 5. 9% before.
– (EU) The European Union has opened its portfolio to sell 10-year and 30-year NGEU bonds denominated in EUR in a syndicate.
– (ID) Indonesia sold a total of IDR 5,975 to the target of IDR 5. 0 T in Islamic expenses and bonds (sukuk).
– (ZA) South Africa sold a total of ZAR 3900 million to ZAR 3900 million indicated in the 2032, 2037 and 2040 bonds.
– (ES) The Spanish Debt Agency (Treasury) sold a total of EUR 1 960 million with EUR 1. 5-2 billion within the diversity indicated in the 3 and 9 month invoices.
– (UK) DMO £3. 25 billion at 1. 0% gilts in January 2032; Average return: 3. 426% vs 4. 109% previously; coverage offer: 2. 11x vs. 2. 42x previously; Tail: 0. 7 bps vs. 0. 3 bps front.
– (NG) Nigeria Oct CPI and/y: 21. 3% to 20. 8% earlier.
– 05:25 (EU) ECB liquidity statistics.
– 05:25 (CH) Switzerland will have 3-month bonds.
– 05:30 (HU) The Hungarian Debt Agency (AKK) will issue 3-month bonds.
– 05:30 (DE) Germany will get €4 billion from Bunds at 2. 10% in November 2029.
– 05:30 (EU) ECB awards the 7-day main refinancing tender (MRO).
– 06:00 (IE) Balance of Ireland’s industry in September: not compared to the previous 6,600 million euros.
– 06:00 (FI) Finland will add a combined €1. 5 billion in 2027 and 2047 RAGB bonds.
– 06:30 (UK) DMO will generate £2250 million at 0. 875% by January 2046.
– 06:30 EU) The ESM will deliver €1. 1 billion in 6-month bonds.
– 06:45 (United States) Daily Libor fixing.
– 07:30 (SE) Central Bank of Sweden (Riksbank) Floden.
– 08:00 (UK) Daily Baltic dry bulk index.
– 08:00 (UK) Announcement via Russia on the next OFZ bonus factor (made on Wednesday).
– 08:30 (United States) Nov Empire Manufacturing: -6. 0 vs. -9. 1 before.
– 08:30 (United States) Oct. Final Demand PPI M/M: 0. 4% vs 0. 4% previously; And/Y: 8. 4% vs 8. 5% before.
– 08:30 (USA) Oct PPI (excluding power/energy) M/M: 0. 3% and 0. 3% earlier; And/Y: 7. 2% vs 7. 2% before.
– 08:30 (US) oct PPI (excluding food/energy/trade) M/M: 0. 2% vs. 0. 4% previously; And/Y: 5. 5% vs 5. 6% before.
– 08:30 (CA) September Canadian production sales M/M: -0. 5%e vs. -2. 0% before; Wholesale sales M/M: -0. 2%e to 1. 4% earlier.
– 08:55 (United States) Redbook LFL weekly data.
– 09:00 (CA) Canada October Existing M/M sales: Not v -3. 9% earlier.
– 09:00 (EU) ECB weekly Forex market reserves.
– 09:00 (United States) Fed Harker.
– 09:00 (United States) Fed cook.
– 10:00 (CO) Balance of the industry of Colombia to September: -$ 1,200 million compared to -$ 2,200 million previously; Total imports: $6. 4 billion versus $7. 3 billion.
– 10:00 am (United States) Barr of the Fed.
– 11:00 (CO) Colombia Q3 GDP T/T: 0. 5% 1. 5% earlier; And/Y: 6. 5% vs 12. 6% before.
– 11:00 (CO) September economic activity index in Colombia (monthly GDP) Yo/Y: 5. 4% Formerly 8. 6%.
– 11:00 (EP) Peru economic activity index as of September (monthly GDP) Yo/Y: 2. 0% to 1. 7% earlier.
– 11:00 (EP) Peru Unemployment rate in October: 7. 5% to 7. 7% previously.
– 11:30 (IL) Israel Oct IPC M/M: 0. 5% vs. 0. 2% previously; And/Y: 4. 9% vs 4. 6% before.
– 12. 30 (NL) Elserson of the ECB (Netherlands, member of the SSM).
– 14:00 (AR) Argentina Oct. Nacional IPC M/M: is not v 6. 2% before, Y/Y: not this v 83. 0% before.
– 4:30 pm. (United States) Weekly inventories of API oil.
– 18:30 (AU) Australia oct Westpac Leading Index M/M: Not v -0. 1% before.
– 18:50 (JP) Basic orders in Japan in September Mo/M: 0. 7% vs. -5. 8% before; And/Y: 8. 0% vs 9. 7% before.
– 19:30 (AU) Australia Q3 Wage Value Index Q/T: 0. 9%e vs. 0. 7% previously; And/Y: 3. 0% vs 2. 6% before.
– 20:30 (CN) New housing in October in China Mo/M: without this v -0. 3% before; Y/Y: not v -1. 5% before.
– 20:30 (KR) The Bank of Korea (BOK) will deliver 1. 0 T KRW in 3-year bonds.
– 21:00 (NZ) New Zealand Oct Non-resident bond holdings: Not v 57. 7% earlier.
– 23:30 (JP) Japan’s tertiary industry M/M index: 0. 6% vs 0. 7% previously.
The AUDUSD bulls stay the course but encounter key resistance. The AUDUSD is up 1% and has risen from a low of 0. 6685 to check a key resistance line near 0. 6800. Geopolitical dangers have reared their ugly heads around Poland, the noise of Russia.
EURUSD fell a new multi-month high to 1. 0480, now trading around 1. 0330, as fears dominated the final hours of the US session. U. S. Russian missiles landed on the border between Poland and Ukraine, killing at least two people.
The price of gold is trading with gains forged on Tuesday after a weak report on the manufacturers’ value index (PPI) in the United States, strengthening the Federal Reserve’s arguments for moderating the speed of interest rate hikes.
The cryptocurrency market is looking to combat the recent attack suffered earlier this month. While a congestion zone is forming in BTC near the mental point of $17,000, the 3 smartest cryptocurrencies remain undecided. Key levels have been set to expect imaginable results for crypto giants in the coming weeks.
U. S. retail sales are expected to be in the U. S. U. S. prices are up 1% after a stagnant September. Risk sentiment is expected to continue to influence the valuation of the US dollar (USD). Market participants will pay close attention to third-quarter earnings reports from major retailers.
Note: All data on this page is subject to change. By visiting this website, you agree to our user agreement. Read our privacy policy and legal notice.
Forex trading on margin carries a high degree of risk and may not be suitable for all investors. The maximum level of leverage can be for both you and you. Investment objectives, point of experience and threat appetite. It is imaginable that you will suffer a total or partial loss of your initial investment and therefore deserve not to invest money that you cannot lose. You deserve to be aware of all the threats related to forex trading and seek the recommendation of an independent monetary advisor if you have any doubts.
The perspectives expressed on FXStreet are those of the individual authors and do not necessarily constitute the opinion of FXStreet or its management. FXStreet has not verified the accuracy or factual basis of any claim or made through an independent author: errors and omissions may occur. . Any opinions, news, research, analyses, pricing or other data contained on this website, through FXStreet, its employees, clients or collaborators, are provided as a general market observation and do not constitute investment advice. FXStreet will not accept any liability for any loss or damage, including but not limited to any loss of profits, which would possibly be maintained directly or indirectly by use of or reliance on such data.