Forex Focus on Germany ZEW surveys

Markets are quiet ahead of the main events later this week. In European forex calendar, traders await today the France October industrial and manufacturing production data due at 9:30GMT. In UK we have the monthly GDP data for October and the UK manufacturing, industrial, construction output will be released at 9:30GMT, along with the UK October trade balance data.  Germany December ZEW surveys current conditions and expectations will be out at 10:00GMT.

In the American forex calendar, the US November NFIB small business optimism index will be released at 11:00GMT. The Nonfarm Productivity q/q and Unit Labor Costs q/q will be out at 13:30GMT.

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China CPI Above Forecasts

During the Asian trading session, the Japan Machine Tool Orders (YoY) drop from previous -37.4% to -37.9% for November.  The China Consumer Price Index (MoM) registered at 0.4%, beating expectations of 0.1% in November, the yearly reading came in at 4.5% above forecasts of 4.2%. The Producer Price Index (YoY) came in at -1.4% above estimates of -1.5% in November.

Australia Business Conditions Beat Forecasts

From Australia the House Price Index (QoQ) came in at 2.4%, topping forecasts of 0.2% in the third quarter. The Australia Bank’s Business Conditions registered at 4 above estimates of 2 in November, while the Business Confidence came in at 0 in line with expectations. The AUDUSD trades steady at 0.6827.

Asian stocks finished mostly lower as traders focus has turned to Fed and ECB decision later this week. The Nikkei ended 0.09% lower at 23,410, the Hang Seng is 0.13% lower at 26,462.More content