The dollar took a knock yesterday and in particular we saw a squeeze back lower in USD/JPY as Treasury yields fumbled after some softer US data. That will put more scrutiny on the jobs numbers this week and we will start off with the ADP employment roulette data later today.
For now, the greenback is steadier as yields also find a slight footing on the day. Equities are keeping the optimism though, with US futures up a touch mainly from tech shares. S&P 500 futures are up 0.14% while Nasdaq futures are up 0.19% currently.
But looking ahead to Europe, the euro will come back into the equation as we will have some inflation figures to watch out for. Traders are pricing in roughly ~54% odds of a ECB rate hike next month, so watch out for any beats/misses and how markets will read into that later in the day and throughout the week.
0600 GMT – Germany July import price index
0700 GMT – Spain August preliminary CPI figures
0700 GMT – Switzerland August KOF leading indicator index
0800 GMT – Switzerland August Credit Suisse investor sentiment
0830 GMT – UK July mortgage approvals, credit data
0900 GMT – Eurozone August final consumer confidence
0900 GMT – Eurozone August economic, industrial, services confidence
1100 GMT – US MBA mortgage applications w.e. 25 August
1200 GMT – Germany August preliminary CPI figures
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.
