Congrats to the Kansas City Chiefs for taking home yet another Lombardi Trophy. That makes it three Super Bowl titles in five years. Big reputation, big reputation. While the world watches on, it’s a slow start to the new week for markets. And not surprisingly so, really.
In Asia, most markets are still closed amid the Lunar New Year. With Japan, China, Hong Kong, and Singapore all out, liquidity conditions are sapped to say the least. We may look forward to things picking up in Europe later but I wouldn’t be surprised if the quieter mood persists.
There aren’t any major economic data releases slated for today, even in US trading. Adding to that, all eyes are on the US CPI data that will come tomorrow. That is the next big data on the agenda after the non-farm payrolls earlier this month.
As such, traders are going to lack appetite in chasing any moves until we get to that. So, don’t expect any fireworks in the day ahead.
Here’s a snapshot of the major currencies space as we look towards European trading: