- European indices opened with a slight decline
- GDP report for the euro area, Canada and Italy
- Results from Caterpillar, McDonald’s and Electronic Arts, among others
European stock indices opened with smaller price gaps on Tuesday after a bearish session on Wall Street yesterday and in Asia today. Energy commodities are pulling down 0.7% with Brent at press time. Precious metals have come under pressure from a stronger USD, with gold down 0.5%, while platinum and silver are down around 1.4% each.
There are some interesting releases in today’s economic calendar. Traders will focus on Europe’s fourth quarter GDP data in the morning, followed by Canada’s monthly GDP report for November in the afternoon. The Conference Board Index for January may also play some tricks. Oil may see some additional action overnight following the release of the API report. Last but not least, Wall Street’s earnings calendar for today is packed with top earnings reports (see list below).
9:55AM CEST – Unemployment rate for Germany, Jan. Expected: 5.5%. Previous: 5.5%
11:00 AM CEST – GDP Report for the Fourth Quarter of Eurozone, 2022. Forecast: -0.1% Q-o-Q. Previous: 0.3% quarterly
11:00 am CEST – Italy reports GDP for the fourth quarter of 2022. Forecast: -0.2% qoq. Previous: 0.5% quarterly
2:30 pm CEST – GDP report for Canada, November. Expected: 0.2% monthly. Previous: 0.1% per month
15:45 CEST – US, Chicago PMI for Jan. Expected: 45.0. Previous: 45.1
16:00 CEST – The Conference Board Confidence Index for US, Jan. Expected: 109.0. Previous: 108.3
22:40h CEST – API report on US oil inventories expected: +0.2Mb. Previous: +3.4MB
22:45h CEST – Data package for New Zealand, Q4 2022.
- Job change. Expected: 0.3% QoQ. Previous: 1.3% quarterly
- labour cost. Expected: 1.1% QoQ. Previous: 1.1% QQ
- Unemployment rate. Expected: 3.3%. Previous: 3.3%
US TODAY’s top earners continue
- Caterpillar (CAT.US) – Before the market opened
- ExxonMobil (XOM.US) – Before the Market Open
- General Motors (GM.US) – Before the Market Open
- Marathon Petroleum (MPC.US) – Before the Market Open
- McDonald’s (MCD.US) – Before the Market Open
- Pfizer (PFE.US) – Before the Market Open
- Phillips 66 (PSX.US) – Before the Market Open
- United Parcel Service (UPS.US) – before the market opens
- Advanced Micro Devices (AMD.US) — After the market closed
- Electronic Arts (EA.US) – After Market Close
“This report is provided for general information and educational purposes only. No opinion, analysis, price or other material constitutes investment advice or recommendation under the law of Belize. Past performance does not necessarily indicate results.” and any person acting on this information does so at their own risk. XTB will not accept liability for any loss or damage, including without limitation any loss of profit, arising directly or indirectly from may arise from the use of or reliance on such information. are leveraged products and carry a high degree of risk. Make sure you understand the associated risks.”
