It shouldn’t come as too much of a surprise really. We’ve been sort of stuck in this mood for more than a week now. The summer lull is really kicking into effect in Europe. EUR/USD is flattish at 1.0876 and sitting within a 23 pips range so far today while USD/JPY is down slightly from 146.40 to 146.15 now, though that just reflects a 0.14% move.
Besides that, the dollar is little changed against the rest of the major currencies bloc with only the aussie trailing behind. For that, I put in more detail earlier in the day here. In any case, here’s a snapshot of how things are at the moment:
In the equities space, European indices are slightly lower by around 0.1% to 0.3% as we are seeing US futures nudge a bit higher. S&P 500 futures are up 0.2% now but it is still early in the day. We are used to seeing the selling pick up in US trading so let’s see if today will hold true to that.