The market mood is looking rather tentative as we look towards European morning trade today, and with good reason. The Thanksgiving holiday is still dampening trading conditions and that is likely to persist until we get to the weekend.
Looking to the session ahead, there’s not much in terms of economic data releases to shake things up as well. We will be getting German data solely in European trading, with Q3 final GDP figures and the November Ifo business survey in focus.
In any case, the data shouldn’t be major market movers whatsoever and that will leave traders to their own devices in figuring out how to close out the week. Just take note of the rebound in yields though, with 10-year Treasury yields up 4.5 bps to 4.460% currently. That might give something for traders to chew on before we wrap things up today.
0700 GMT – Germany Q3 final GDP figures
0900 GMT – Germany November Ifo business climate index
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.