Economic data coming up in the European session

A preview of what's to come in the European trading session today

Howdy, everyone! It's the last day of the trading week, but that doesn't mean it's going to be a quiet one. We've already seen some dollar weakness so far as yields make a break to the topside. US 10-year yields hit their highest levels since 2016 breaking above 2.63%.

Anyway, here is what's coming up in the European trading session later:

0700 GMT - Germany December PPI data

Not a major data point, as the inflation numbers were already released earlier - but something to take note on producer prices for trend-spotting. Should be a non-event. Prior numbers can be found here. Remember, German data releases by Destatis has been delayed since 5 January. Please refer to my post here for further information.

0815 GMT - Switzerland December PPI data

Prior month's data was relatively positive - but it still needs to be translated into inflation. The SNB is unlikely to do anything or move prior to the ECB, so the data point doesn't offer much at this point.

0900 GMT - EIA releases their monthly oil report/outlook

All eyes will likely look at the production outlook by the EIA, whether or not they expect a flood of supply is to be released into the market over the next couple of months.

0900 GMT - Eurozone November current account

Not a significant data point, as the trade balance data was already released earlier at the start of the week here.

0930 GMT - UK December retail sales data

The big data point on the day. Another glimpse into the consumer aspect of the UK economy. Core retail sales are expected to be -1.0% m/m, but +2.6% y/y. The y/y reading is expected to be higher than prior month's reading. Another disappointment in the consumer data and it could get sterling bulls a little worried - as there are growing signs that consumer spending remains subdued in the UK.

And that's all for today! Not a whole lot of major data points, but something to keep an eye out for at least. Anyway, I hope you all have a great day ahead and as always, good luck with your trading!