A rather light one on the data docket as focus remains on risk/trade sentiment
Good day, everyone! Hope you're all doing well after the topsy-turvy day in markets yesterday as risk trades slumped then rebounded before slumping again and finally rebounding late in North American trading.
The focus is on that once again with the yuan fixing finally crossing over the 7.00 per dollar threshold, though not as weak as expected by market estimates.
That is helping to keep the risk mood a little more buoyant for the time being amid reports overnight that trade talks in September look set to continue. Commodity currencies are holding more firm while the dollar and yen are slightly on the back foot.
0630 GMT - Bank of France July industry sentiment indicator
Prior release can be found here. A general gauge of sentiment towards the French economy, not a major release by any means.
0800 GMT - ECB releases economic bulletin following its July meeting
The July meeting decision can be found here. The release here shouldn't tell us anything we don't already know of the central bank's view towards the regional and global economy and their outlook. Expect them to reiterate weak conditions and downside risks in order to set up the platform to introduce stimulus in September.
There isn't much of note in terms of economic releases in the session ahead. As such, expect market focus to stay on risk/trade sentiment as we look to wrap up the week over the next two days. I wish you a pleasant day ahead and good luck with your trading!
