Friday, September 29, 2023

Economic calendar: EU retail sales and Canada’s Ivey PMI

  • The opening expectation of European indices is little changed
  • EU Retail Sales Data
  • factory orders in germany

European index futures contracts indicated a flat open for today’s cash session in Europe. The German DAX index is down 0.1% and is trading at around 15,945 points, while the Euro Stoxx 50 index is down 0.06% from the line.

Today’s macro calendar is relatively light for the US with no releases scheduled except for the weekly Crude Oil Inventory (API) report. however, In Europe, investors will find many interesting facts. In particular, factory orders data for Germany released at 08:00 CEST is in focus., The German economy has slowed significantly in recent weeks and orders indicate a continuation of contraction. MoM orders decreased by 0.4% against an expected increase of 3.0%. Then, at 11:00 CEST, Eurozone retail sales data will be released.

06:30am CEST, Australia: Interest Rate Decision. Up from 0.25% to 4.10%, Expected: 3.85%, Previous: 3.85%

08:00 CEST, Germany: Factory orders for April. Actual: -0.4% MoM, Expected: 3.0% MoM, Previous: -10.9% MoM. Current: -9.9% YoY, Previous: -11.2% YoY

11:00 AM CEST, EU – Retail Sales for April.

  • Adjusted – Expected: 0.2%, Previous: -1.2%.
  • Weighted: Expected: -3.0%, Previous: -3.8%

4:00 PM CEST, Canada – Ivey PMI. Expected: 57, Previous: 56.8

10:40 pm CEST, US – Crude Oil Inventory Report. Expected: 0.5 million, Previous: 5.2 million

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World Nation News Desk
World Nation News Desk
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