Here's a breakdown of today's key events, with a focus on the European and American sessions, and some insights into central bank speakers:
European Session:
The spotlight in the European session shines on the UK's Q4 GDP report, which arrived slightly below expectations. Despite this, it didn't significantly alter the Bank of England's (BoE) outlook, resulting in a muted market response. With a relatively light agenda for the rest of the session, expect price movements to remain within a defined range as we await tomorrow's US CPI report.
American Session:
The American session's main attraction is the US Jobless Claims data. Initial Claims are projected to be at 222K, down from the previous figure of 231K, while Continuing Claims are expected to be at 1850K, up from 1844K. Following yesterday's robust NFP report, which surprisingly didn't elicit a significant market reaction, Jobless Claims are unlikely to spark major shifts. Significant deviations, such as Continuing Claims falling below 1800K or Initial Claims soaring above 260K, would be needed to trigger a substantial market response.
Central Bank Speakers:
- 09:00 GMT/04:00 ET: ECB's Cipollone (neutral - voter)
- 13:45 GMT/08:45 ET: BoC's Rogers (neutral - voter)
- 15:50 GMT/10:50 ET: ECB's Stournaras, Lane, and Radev (neutral - voters)
- 19:30 GMT/14:30 ET: ECB's Nagel (neutral - voter)
These speakers represent neutral voters within their respective central banks, and their remarks are likely to be focused on maintaining current monetary policies.
