Major central bank decisions will take center stage this week but don’t discount the impact of the PMI data that we will see today. In the case of the Eurozone, this could play a role – alongside inflation data – to manage expectations for September.
The yen is slightly higher today but the bulls were dealt a blow last week as hopes for a more hawkish BOJ receded. USD/JPY is down 0.3% to 141.38 currently but the change isn’t that significant as compared to the upside move on Friday.
Elsewhere, major currencies are little changed and trapped in narrow ranges mostly while equities are also looking more tentative. It’s all about the waiting now until we get to the major central bank decisions later this week.
0715 GMT – France July flash manufacturing, services, composite PMI
0730 GMT – Germany July flash manufacturing, services, composite PMI
0800 GMT – Eurozone July flash manufacturing, services, composite PMI
0800 GMT – SNB total sight deposits w.e. 21 July
0830 GMT – UK July flash manufacturing, services, composite PMI
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.