UK labour market report in focus in the session ahead

<p>The dollar is slightly on the softer side but it is still too early to decide anything, not least in the context of trading this week. For today, all eyes are on the US CPI report to come later as that will be the main event for markets in general.</p><p>But before we get to that, there will be some decent data releases on the agenda in Europe to deal with. The most notable one being the UK labour market report, so that will keep the pound in focus. But after two months of there being a bit of a caveat to the data, it might be a bit tricky to read into the release today.</p><p>In any case, we'll take it as it goes and one of the more important statistic is the jobless rate – which is estimated to remain steady at 4.2%. Besides that, there should be some softening in the wage numbers and that is the expectation going into the report.</p><p>Apart from that, the main trading focus will stay on the US CPI report today. So, don't expect much fireworks in the run up to that in European morning trade.</p><p>0700 GMT – Germany November wholesale price index0700 GMT – UK November payrolls change0700 GMT – UK October ILO unemployment rate, average weekly earnings1000 GMT – Germany December ZEW survey current conditions, outlook1100 GMT – US November NFIB small business optimism index</p><p>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.</p>

This article was written by Justin Low at www.forexlive.com.