A couple of light releases to move things along
The renewed bid in bonds (lower yields) is perhaps the thing that stands out so far on the day, with Treasury yields sliding ahead of European trading and that is putting a notable drag on yen pairs with USD/JPY down 0.4% to 112.75.
The technicals are pointing towards a decent correction after the surge higher in October as the bond market looks to reassess with Team Transitory fighting back.
Risk is also leaning a touch more on the cautious side but that comes after a solid stretch of gains for US indices in particular. The S&P 500 index has closed higher for eight consecutive days - its best streak since 1997.
The dollar is also still in a sluggish spot as the push and pull continues, with US consumer inflation data tomorrow among the key risk events to watch out for this week.
0700 GMT - Germany September trade balance data
Prior release can be found here. Overall trade conditions have caught back up to pre-pandemic levels but there is still some element of catch up perhaps to meet more robust/pent-up demand conditions as the economy recovers from the pandemic.
0745 GMT - France September trade balance data
Prior release can be found here. As a trend, trade conditions should continue to reflect an improvement back towards pre-pandemic levels.
1000 GMT - Germany November ZEW survey current conditions, outlook
Prior release can be found here. Amid supply bottlenecks and the resurgence in virus cases, that is expected to temper with the optimism in the German recovery and also cast a more dour setting on the outlook going into winter.
1100 GMT - US October NFIB small business optimism index
Prior release can be found here. This is an index which measures the opinion of small businesses on the economic conditions in the country.
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.
