Fitch’s downgrade Greece’s four largest banks from BBB+ to BBB. Moreover, the ratings outlook is negative, which points to the risk of further downgrades ahead.
US GDP was revised up on Friday to 5.9% QoQ mainly due to inventories and probably will be supporting the return of the risk appetite.
Lots of major fundamental data this week: Canadian, Swiss, Australian GDP and Australian, Canadian, British, Eurozone Interest Rate and the Non Farm Payrolls on Friday.
Daily Trends & Charts
Watch the Fundamentals!(GMT time)
UK House Price Index: -1.0% vs. 0.4% exp.
UK GDP: 0.3% vs. 0.2% exp.
EU CPI: 0.1% as exp.
Swiss Economic Barometer: 1.87 vs. 1.81 exp.
Canadian Current Account: -9.8B vs. -8.7B exp.
US GDP: 5.9% vs. 5.6% exp.
US Existing Home Sales: 5.05M vs. 5.51M exp.
UK Manufacturing PMI at 09:30.
Eurozone Unemployment at 10:00.
Canadian GDP at 13:30.
US Manufacturing PMI at 15:00.
AU Building Approvals at 00:30.
AU Retail Sales at 00:30.
AU Interest Rate Statement at 03:30.
Swiss GDP at 06:45.
CanadianInterest Rate Statement at 14:00.
“Trends for today” is presented by Danny Spivak
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