Technical Analysis

UK monthly GDP on the agenda today

The dollar is holding slightly firmer across the board but the technicals indicate that there is plenty to play for in what will be a blockbuster week in markets. Equities are looking fairly pensive and the mood is somewhat mimicked by the bond market and that may make for a tense and choppy affair in European trading today.

All eyes are on the key risk events starting from tomorrow, so we’re not likely to see any firm directional moves in the meantime unless market players do have the appetite to go position hunting in the sessions ahead.

UK monthly GDP for October is the only release of note for today and that despite an estimated positive reading, it won’t offer much as recession risks are still running high going into next year.

0700 GMT – UK October monthly GDP data
0900 GMT – SNB total sight deposits w.e. 9 December

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.

3 – After knocking out Portugal with a 1-0 win, Moroccan goalkeeper, Yassine Bounou, becomes the first African goalkeeper to record three clean sheets in a single edition of the World Cup.

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