US Core monthly retails sales will be announced on Friday at 15:30 MT time.
Finance minister: German economy will ascend firmly in the third quarter
At the beginning of the third quarter the German economy slumped after a strong performance in the first half of 2017, although indicators hint that its firm surge will continue, as the Finance Ministry announced on Thursday.
Europe's number one economy is actually facing a consumer-led upswing, driven by record-high employment, surging real wages as well as low borrowing costs. These conditions will help Chancellor Angela Merkel to grasp a fourth term in an upcoming federal election.
The Finance Ministry, actually controlled by Merkel's conservatives as well as their veteran lawmaker Wolfgang Schaeuble, stressed in its monthly report that at the beginning of the third quarter the German economy lost some momentum.
However, they added that recent economic data show that the sturdy upswing will keep its pace in the third quarter too. Moreover, business morale was still high, while German exporters were supposed to derive benefits from a global economic revival.
Stock significantly surged: S&P 500 and Nasdaq reached 6-week highs. The market sentiment may deteriorate today as Johnson & Johnson’s Covid-19 vaccine trails have been stopped because of the unexplained illness.
The Australian jobs data is announced on Thursday at 03:30 MT time.
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.