The evening session begins a very important phase for FX Markets, with a quintessential Australian CPI report coming up in a few hours.
Tomorrow’s session should also be quite a ride.
To begin with, late night (and Asian/European) traders will start a long session with German Retail Sales and Unemployment figures at 02:00 A.M. and 03:55 A.M. ET. Decent stability is expected with Retail Sales projected at 0.2%, but it still shouldn’t take the spotlight away from the inflation data dropping shortly after.
The 05:00 A.M. ET stretch releases the heavy-hitting Eurozone Harmonized Index of Consumer Prices (HICP). Traders will be glued to the Core HICP (YoY), expected at 2.4%, to see if the ECB has room to breathe or if they’ll need to keep the pressure on.
The US Data will start with a few key data releases.
08:15 A.M. E.T. starts the North American session with the ADP Employment Change, expected at 45K. It’s a significant jump from the previous -32K, but it is a pale figure to what’s coming later in the morning.
- ISM Services PMI is finally releasing, expected at 52.3, alongside the JOLTS Job Openings projected at 7.64M, all releasing at 10:00 A.M.
- US Factory Orders are also on deck, with a steep -1.2% contraction expected.
Get ready for the event with our preview of the labor market health right here.
Canadian Dollar traders will also be awaiting the Ivey Purchasing Managers Index at 10:00 A.M. ET, which is expected to show a recovery toward 49.5.
Safe Trades and Happy New Year!
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