Forex - European Highlights ~ Thursday 7th December


 11:23 (GMT) 07 Dec

  [Forex Highlights]

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European Highlights ~ Thursday 7th December (0100-VWQL-C01)

News Highlights -

+ Equity markets drift higher as year-end profit-taking peters out.

+ Swiss FX reserves fell to Chf738.2bln in November versus Chf741.5bln in October.

+ German October industrial production -1.4% v +0.9% expected.

Europe FX and News -

+ FX trading in Europe remained constrained by the approach of the US employment report, with the only moving being a modest drift higher in USD/JPY. German industrial production was worse than expected, but failed to prompt a reaction due to the volatile nature of the data.

Bonds -

+ Bond yields drift higher as equities bounce, but the market is still rangebound for US Treasuries ahead of the NFP and FOMC next week. No divergence of note in European paper. Gilts still sit with a narrower spread, given the uncertainty about reaching a quick deal on N Ireland and Brexit.

Equities -

+ Bounceback in Asian equities has helped to provide a boost for European markets and Wednesday looks like year-end profit-taking. US tax progress is also underpinning sentiment in US equities.

Data:

05:30 GMT - NL: CPI (Nov) % m/m (Prev: 0.1)

05:30 GMT - NL: CPI (Nov) % y/y (Prev: 1.3)

05:30 GMT - NL: HICP (Nov) % m/m (Prev: 0.2)

05:30 GMT - NL: HICP (Nov) % y/y (Mkt: 1.4 Prev: 1.3)

06:45 GMT - CH: Unemployment (sa) (Nov) % (Mkt: 3.1 Prev: 3.1)

07:00 GMT - DE: Industrial Production (Oct) % m/m (Mkt: 0.9 Prev: -1.6)

07:00 GMT - DE: Industrial Production (Oct) % y/y (Mkt: 4.3 Prev: 3.6)

07:00 GMT - NO: Industrial Production (Oct) % y/y (Prev: 1.2)

07:00 GMT - NO: Industrial Production (sa) (Oct) % m/m (Prev: -0.5)

07:00 GMT - NO: Industrial Production, Manufacturing (nsa) (Oct) % y/y (Prev: 12.3)

07:00 GMT - NO: Industrial Production, Manufacturing (sa) (Oct) % m/m (Mkt: 0.7 Prev: 2.6)

07:45 GMT - FR: Trade Balance (Oct) EUR bn (Mkt: -4.675 Prev: -4.669)

08:30 GMT - UK: Halifax House Price Index (Nov) % 3m y/y (Mkt: 3.9 Prev: 4.5)

08:30 GMT - UK: Halifax House Price Index (Nov) % m/m (Mkt: 0.2 Prev: 0.3)

08:30 GMT - SE: Average House Prices (Nov) mn (Prev: 2.917)

09:00 GMT - IT: Unemployment (Q3) % q/q (Mkt: 11.2 Prev: 11.2)

10:00 GMT - EU: GDP (SA) (Final) (Q3) 4cast: 0.6% q/q (Mkt: 0.6 Prev: 0.6)

10:00 GMT - EU: GDP (SA) (Final) (Q3) 4cast: 2.5% y/y (Mkt: 2.5 Prev: 2.5)

10:00 GMT - GR: Unemployment (Sep) % (Prev: 20.6)

Still To Be Released

Data

13:30 GMT - CA: Building permits (Oct) % m/m (Mkt: 1 Prev: 3.8)

13:30 GMT - US: Initial Claims (43071) k (Mkt: 240 Prev: 238)

15:00 GMT - CA: Ivey PMI (Nov) (Mkt: 62.5 Prev: 63.8)

20:00 GMT - US: Consumer Credit (Oct) USD bn (Mkt: 17 Prev: 20.83)

23:50 GMT - JP: Bank Lending Data (Ex trusts) (Nov) % y/y (Prev: 2.8)

23:50 GMT - JP: GDP (Final) (Q3) % q/q ann (Mkt: 1.5 Prev: 1.4)

Events & Auctions

03:35 GMT - JP: 3mth Bills Auction

03:45 GMT - JP: 30yr Bond Auction

07:00 GMT - SE: Riksbank's Floden Speaks in Stockholm

09:00 GMT - SE: Riksbank's Skingsley Speaks in Paris

09:30 GMT - ES: Bond Auction

09:50 GMT - FR: Bond Auction

10:30 GMT - UK: 1.5% 2047 Bond Auction

10:50 GMT - FR: I/L Bond Auction

15:00 GMT - EU: ECB's Draghi Speaks in Frankfurt


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