What are the main events for today?
EUROPEAN SESSION
In the European session, we don’t have much on the agenda other than the French trade balance data which is not going to change anything for the ECB, so the market reaction will be muted.
AMERICAN SESSION
In the American session, we just have the weekly ADP jobs data and the NY Fed inflation expectations. Neither of these are market moving and won’t change anything for the Fed.
The markets are mostly in rangebound mode as we await the US CPI report next Tuesday. If we don’t get any meaningful catalyst before then, I suspect we will continue to range.
CENTRAL BANK SPEAKERS
- 07:30 GMT/03:30 ET – ECB’s Panetta (neutral – voter)
- 10:15 GMT/06:15 ET – ECB’s Kocher (neutral – voter)
This article was written by Giuseppe Dellamotta at investinglive.com.