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Today data and event risks are moderate. Focus is on Canada.
Data released so far -
- Germany - Producer price index dropped -0.1% mom. This may be over lower oil price.
Upcoming -
- Euro zone - Current account balance to be released at 9:00 GMT. Vital to see if weaker Euro is having an effect on the number. Robust data would be price supportive of European stocks.
- UK - Public sector net borrowing data to be published at 09:30 GMT. Should not be a major market mover.
- India - RBI will release data on Forex reserve. Recent fall in benchmark nifty index might put a dent in FX reserve.
- Canada - Consumer price index along with retail sales to be released at 12:30 GMT. Core price index that grew at 0.5% is the main focus. Lower reading would push loonie lower. Retail sales fell by -2% last time today another fall is expected by -0.7%.
- US - FED's Lockhart will be speaking at 14:20 GMT. As Fed policy guidance becomes clouded individual member's speech is vital for further clues.
