Daily Brief, Nov 29: Economic Events Outlook – Eurozone’s Inflation Eyed

Good morning, fellas.
We made it through another week, but this was a slow week due to the Thanksgiving holiday. The dollar moved towards its highest weekly finish versus the safe-haven yen since May on Friday, as economic figures showing the US economy on a solid standing prompted traders to scale back rate-cut risks.
Speaking of the fundamentals side, the economic calendar is fully loaded with Eurozone’s fundamentals, but all of them are low impact. Investors may drive some movement on CPI Flash Estimate y/y at 10:00 GMT in European pairs, so we should monitor the EUR/USD currency pair today.
Besides, the UK is releasing economic events like Mortgage Approvals, M4 Money Supply m/m, and Net Lending to Individuals m/m at 9:30 GMT, but these are likely to have a muted impact on GBP pairs today.

Watchlist – Top Economic Events Today

EUR – German Retail Sales m/m – 7:00 GMT
Destatis will be releasing the German retail sales data at 7:00 GMT today. Fellas, as we know Germany, is one of the biggest business hubs of the European Union; its economic events do play a significant role in Eurozone’s economy and single currency Euro.
Despite accommodative monetary policy and recent quantitative programs, German retail sales have failed to gain momentum. Economists are expecting it to drop by -0.2% vs. 0.1% beforehand.
EUR – French Prelim CPI m/m – 7:45 GMT
INSEE is due to report inflation figures for France. It shows a change in the inflation-adjusted value of all goods expenditures by consumers. A slight improvement is expected in CPI from -0.4% to 0.2%. But the economic indicator is of low impact, and it may not drive major movements in the market.


EUR – German Unemployment Change – 8:55 GMT
The Federal Employment Agency is due to report the labor market figures for German. As discussed earlier, data is coming from one of the major business hubs of the Eurozone, and it carries much importance.
People may tighten the strings of their wallets if the unemployment rate soars from 9.9%, and this may ultimately hurt their inflation rates as well. Anyway, economists are expecting a slight improvement in Germany’s unemployment rate as it’s anticipated to drop to 9.8% vs. 9.9% previously.
CAD – GDP m/m – 13:30 GMT
Canada prints its GDP reports every month – extending updated information about its economy. In the previous two months, Canadian growth has failed to surprise the market, with a surge of just 0.1% in August and a stagnation in July.
The numbers for September settle the third quarter and thus extend a broader picture of the economy. A quicker pace of growth is on the cards now.
Good luck for today, and have an awesome weekend ahead!

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments