Markets are looking rather tentative so far today and with good reason. There will be no love lost this Valentine's Day as traders will duke it out in the main event that is the US CPI data release later today.
After solid gains in trading yesterday, equities are more guarded and we'll likely see a lack of incentive to go running before we get to the inflation numbers. The same can be said for broader markets, with the dollar holding rather mixed at the moment as the yen is slightly higher on the day with USD/JPY slipping back just below 132.00 currently.
Looking ahead, the latest UK labour market report will be one to watch for the pound as it could offer a hint or two about how widespread the slowdown is hitting across the key areas of the UK economy.
0700 GMT - Germany January wholesale price index
0700 GMT - UK January payrolls change
0700 GMT - UK December ILO unemployment rate, employment change
0700 GMT - UK December average weekly earnings
0730 GMT - Switzerland January producer and import prices
1000 GMT - Eurozone Q4 GDP second estimate
1100 GMT - US January NFIB small business optimism index
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
