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- European session review: EUR weakens, as renewed lockdown measures in EU risk suppressed risk appetite; focus on ECB's policy decision
European session review: EUR weakens, as renewed lockdown measures in EU risk suppressed risk appetite; focus on ECB's policy decision
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:55 | Germany | Unemployment Change | October | -10 | -5 | -35 |
| 08:55 | Germany | Unemployment Rate s.a. | October | 6.3% | 6.3% | 6.2% |
| 09:30 | United Kingdom | Net Lending to Individuals, bln | September | 3.3 | 4.2 | |
| 09:30 | United Kingdom | Consumer credit, mln | September | 0.3 | 0.75 | -0.600 |
| 09:30 | United Kingdom | Mortgage Approvals | September | 85.5 | 76.112 | 91.5 |
| 10:00 | Eurozone | Consumer Confidence | October | -13.9 | -15.5 | -15.5 |
| 10:00 | Eurozone | Industrial confidence | October | -11.4 | -11 | -9.6 |
| 10:00 | Eurozone | Economic sentiment index | October | 90.9 | 89.5 | 90.9 |
| 12:30 | U.S. | Continuing Jobless Claims | October | 8373 | 7700 | |
| 12:30 | U.S. | Initial Jobless Claims | October | 787 | 775 | |
| 12:30 | U.S. | PCE price index, q/q | Quarter III | -1.6% | ||
| 12:30 | U.S. | GDP, q/q | Quarter III | -31.4% | 31% |
EUR fell against its major counterparts in the European session on Thursday as renewed lockdown measures in Europe's biggest economies suppressed risk appetite.
Germany and France both announced strict restrictions on business and travel on Wednesday, while Spain declared a six-month state of emergency to curb the spread of the coronavirus.
Investors worry that the imposed lockdowns could derail the region's economic recovery, adding even more pressure to ECB's policymakers as they prepare to announce their monetary policy decision at 12:45 GMT. Overall, it is expected that the ECB will keep its policy unchanged and will resist pressure to introduce additional stimulus at today's meeting, but it could pave the way for action at the end of the year.
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