What are the main events for today?

We have another empty European session today in terms of data releases. The main event today is the US PPI report which might set the sentiment going into the US CPI report due tomorrow.

13:30 GMT/08:30 ET – US December PPI

The US PPI Y/Y is
expected at 3.4% vs. 3.0% prior, while the M/M measure is seen at 0.3% vs. 0.4%
prior. The Core PPI Y/Y is expected at 3.8% vs. 3.4% prior, while the M/M
measure is seen at 0.3% vs. 0.2% prior. The numbers aren’t encouraging but even a miss might trigger a pullback in the recent moves as they’ve been quite aggressive, especially on the Treasury yields side.

Central bank speakers:

• 07:35 GMT/02:35 ET – ECB’s Lane (dove – voter)
• 08:30 GMT/03:30 ET – BoE’s Breeden (neutral – voter)
• 15:00 GMT/10:00 ET – Fed’s Schmid (hawk – voter)
• 20:05 GMT/15:05 ET – Fed’s Williams (neutral – voter)

This article was written by Giuseppe Dellamotta at www.forexlive.com.