It’s been a bit of a mixed week so far with some pushing and pulling in markets. Treasury yields dipped lower yesterday and that saw the dollar ease slightly, following the advance on Monday. If anything, the lack of clear direction isn’t going to help with things coming into trading today.
Major currencies are little changed, not finding much appetite at the moment. USD/JPY is hovering just below the 148.00 mark while GBP/USD is inching back towards 1.2600 currently. The latter is trying to challenge the break lower this week and settle back into the 1.2600 to 1.2800 range.
In the equities space, US futures are flattish as well currently. So, that’s not really offering much to work with alongside a more tepid mood in the bond market. 10-year yields in the US are near unchanged at 4.092% on the day.
Looking to European trading, we will get German industrial production and French trade balance data among a couple of lighter releases today. That won’t help to shake things up, so we might be in for more push and pull ahead of next week’s big data focus.
0645 GMT – Switzerland January unemployment rate
0700 GMT – Germany December industrial production
0700 GMT – UK January Halifax house prices
0745 GMT – France December trade balance data
1200 GMT – US MBA mortgage applications w.e. 2 February
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.