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- Economic calendar for European and US trade session – 08.12.2017
Economic calendar for European and US trade session - 08.12.2017
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Loading...- 09:00 Germany - October Trade Balance
Expectations are that the German balance remains unchanged at €21.8bn, and even if we observe a difference between the forecast and actual values, investors will not report the news strongly. Their focus will be again on the increasingly possible coalition between Merkel and Schultz, who yesterday gave the green light to the talks. If today we see progress in negotiations on a coalition agreement in Germany, we expect strong euro growth.
- 11:30 UK - October Industrial Production
- 11:30 UK - October Manufacturing Production
- 11:30 UK - October Trade Balance
All three indicators are expected to decline as a result of the complicated situation following the Brexit referendum. Industrial production growth is expected to fall to 0.0%, up from 0.7% in the previous month. Industrial production is expected to enter a negative territory, down from -0.1% versus a 0.7% growth in the previous month. The trade balance outside the EU is expected to reach a deficit of -3.30 billion. pounds compared to -2.98 billion. The trade deficit with Europe is expected to grow to -11.45 billion. from -11.25 billion. during the previous month. With this in mind, we expect a decline in GBP, but we remain ready for news from the island affecting the Border Deal with Ireland. When reaching a bargaining agreement, we expect GBP growth, and this, along with worse economic data, is the perfect recipe for high volatility on the last business day. We expect strong movements in both directions.
- 15:00 United Kingdom - NIESR Estimated GDP
Here too, the forecasts are down 0.4% compared to 0.5%, but the focus remains on the Brexit negotiations and we do not expect the projected GDP to have a strong impact on the pound.
- 15:15 Canada - Housing starts
- 15:30 USA - Non Farm Payrolls
- 15:30 USA - Average hourly wage
- 15:30 USA - Unemployment Rate
New jobs in the United States are expected to return to average values of around 185K, as previous data was heavily influenced by hurricanes Harvey and Irma. The data we expect today is the first "clean data" that will actually show how the US economy is doing. This will lead to a greater impact on USD and indices than previous data.
- 17:00 United States - Michigan Consumer sentiment
- 20:00 USA - Baker Huges Oil Rig Count
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