A couple of light releases to kick start the new week
Major currencies are keeping steadier for the most part with the yen slightly softer as bond yields are a touch higher on the day after having sunk at the end of last week.
Bond shorts have arguably overstepped in recent weeks and we're seeing some of that unwind/squeezed out in trading last week. While yen pairs are dragged down, they're not exactly screaming at a major downtrend.
But for now at least, that keeps things more interesting as there is still some push and pull in the market. The dollar saw a bit of a retreat on Friday but is keeping more mixed and steady so far as we look towards European trading today.
US futures are more pensive after a stellar start to November, with Elon Musk providing investors with some food for thought. S&P 500 futures are down 0.2% while Nasdaq futures are down 0.4% at the moment.
0645 GMT - Switzerland October unemployment rate
Prior release can be found here. The Swiss jobless rate is estimated to tick lower, reflecting further improvement in labour market conditions - at least on the surface.
0900 GMT - SNB total sight deposits w.e. 5 November
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0930 GMT - Eurozone November Sentix investor confidence
Prior release can be found here. The headline reading is expected to improve a little after three straight months of decline leading to a six-month low in October. Supply constraints and inflation pressures will continue to keep the overall outlook more pressured going into next year, so that should still be the key takeaway from the report.
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.
