Reply To: Traders Market Weekly: Oil Caps, Sanctions and Services


Eurozone’s October PPI decelerated for the second consecutive month, returning to levels seen at the end of Q1.
European officials are still trying to agree on a price cap for Russian oil.
Hungary’s Prime Minister Orban repeated his country’s opposition to implementing a global minimum corporate tax.
Spain was visited by over seven million tourists in October, which was about 6.0% below the total from October 2019.
Eurozone’s October PPI -2.9% m/m (expected -2.0%; last 1.6%); 30.8% yr/yr (expected 31.5%; last 41.9%)
Germany’s October trade surplus EUR6.90 bln (expected surplus of EUR5.20 bln; last surplus of EUR2.80 bln). October Imports -3.7% m/m (expected -0.4%; last -2.2%) and Exports -0.6% m/m (expected -0.3%; last -0.7%). October Import Price Index -1.2% m/m (expected -1.7%; last -0.9%); 23.5% yr/yr (expected 23.3%; last 29.8%)
France’s October Industrial Production -2.6% m/m (expected 0.0%; last -0.9%). October government budget deficit EUR143.20 bln (last deficit of EUR146.60 bln)
Spain’s November Unemployment Change -33,500 (expected -20,300; last -27,000)