LOOK AHEAD: Eurozone Timeline of Key Events (Times GMT)
| Date | Time | Country | Event |
| 18-Dec | 0745 | FR | Manufacturing Sentiment |
| 18-Dec | 1000 | EU | EZ Construction Output |
| 18-Dec | 1315 | EU | ECB Rate Decision |
| 18-Dec | 1345 | EU | ECB Press Conference |
| 18-Dec | 1445 | EU | ECB Staff Macroeconomic Projections |
| 18-Dec | 1515 | EU | ECB Lagarde Presents Rate Decision on ECB Podcast |
| 19-Dec | 0700 | DE | PPI / GfK Consumer Climate |
| 19-Dec | 0745 | FR | PPI |
| 19-Dec | 0830 | EU | ECB Wage Tracker |
| 19-Dec | 0900 | EU | EZ Current Account |
| 19-Dec | 0900 | IT | ISTAT Business / Consumer Confidence |
| 19-Dec | 1200 | EU | ECB Cipollone Remarks, Roundtable at Aspen Institute |
| 19-Dec | 1400 | BE | BNB Business Confidence |
| 19-Dec | 1500 | EU | Consumer Confidence Indicator (p) |
| 19-Dec | 1510 | EU | ECB Lane Lecture at Central Bank of Ireland |
| 22-Dec | 0900 | IT | PPI |
| 23-Dec | 0700 | DE | Import/Export Prices |
| 23-Dec | 0800 | ES | GDP (f) / PPI |
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BOBL TECHS: (Z5) Bearish Cycle
- RES 4: 118.600 High Oct 24
- RES 3: 118.360 High Oct 28
- RES 2: 118.270 High Nov 5 118.360/600 High Oct 28 / 24
- RES 1: 117.960/118.121 Low Nov 10 / 50-day EMA.
- PRICE: 117.920 @ 06:00 GMT Nov 18
- SUP 1: 117.800 Low Nov 17
- SUP 2: 117.710 Low Oct 6
- SUP 3: 117.630 Low Oct 1
- SUP 4: 117.470 Low Sep 15 and a key support
The short-term trend condition in Bobl futures is unchanged, it remains bearish and last week’s sell-off reinforces current conditions. Recent weakness resulted in a breach of 118.043, 61.8% of the Sep 25 - Oct 17 bull cycle. Note that 117.824, the 76.4% retracement, has been pierced. A continuation lower would open 117.630, the Oct 1 low. Initial firm resistance is seen at 118.121, the 50-day EMA.
EQUITY TECHS: E-MINI S&P: (Z5) Bear Leg Extends
- RES 4: 6993.12 3.500 proj of the Aug 20 - 28 - Sep 2 price swing
- RES 3: 6953.75 High Oct 30 and bull trigger
- RES 2: 6900.50 High Nov 12
- RES 1: 6793.65 20-day EMA
- PRICE: 6657.00 @ 05:59 GMT Nov 18
- SUP 1: 6638.75 Low Nov 14
- SUP 2: 6571.25 Low Oct 17
- SUP 3: 6540.25 Low Oct 10 and a key support
- SUP 4: 6476.62 23.6% retracement of the Apr 7 - Oct 30 uptrend
S&P E-Minis maintain a softer short-term tone. The below support at 6655.70, the Nov 7 low cancel recent bearish signals and signals scope for an extension of the current corrective cycle. Note that price has also breached support at the 50-day EMA. An extension would open 6540.25, the Oct 10 low and the next key support. Initial firm resistance to watch is 6793.65, the 20-day EMA.
INDONESIA: MNI BI Preview-Nov 2025: BI Could Hold To Wait & See
- Download Full Preview Here
- Bank Indonesia (BI) announces its rates decision on Wednesday 19 November and could hold or ease as it has reasons for both. Bloomberg consensus is expecting it to be on hold with only 5/30 forecasting 25bp of easing but recently BI has gone against majority expectations.
- If BI holds in November, it is likely to reiterate that it is “monitoring the transmission effectiveness of accommodative monetary policy” and that it would like to see lower lending rates and an improvement in lending growth to support economic activity (it is forecasting 2026 loan growth of 8-12%).
- USDIDR has trended higher over November and BI has intervened to stall the move. However, at around 16762, it is up a percent since the 22 October decision.
- It could still cut in December, if the rupiah has stabilised and the Fed eases too.
