It's a slow and steady start to the new year, with the dollar keeping a little mixed but marginally lower at the balance on the day. It is still a holiday in some parts of the world but US markets are open so we might get some early action already later on. For now, major currencies aren't doing a whole lot. Here is a snapshot of dollar pairs going into European trading:
In the equities space, US and European futures are holding higher with S&P 500 futures seen up 0.5%. Tech shares are already looking to scale higher, after having been the standout performers last year.
Looking to the session ahead, there will be some economic data to move things along. However, the highlight will be the final manufacturing PMI readings for December in the euro area. And that won't have much impact considering that they are final estimates.
The US session might offer more later in the day as we will have the weekly jobless claims data to work through. It might be the first week of the month but the non-farm payrolls report will only be available next week on 10 January. So, we'll have to wait a bit for labour market data from the US to start the new year.
0700 GMT - UK December Nationwide house prices
0815 GMT - Spain December manufacturing PMI
0845 GMT - Italy December manufacturing PMI
0850 GMT - France December final manufacturing PMI
0855 GMT - Germany December final manufacturing PMI
0900 GMT - Eurozone December final manufacturing PMI
0900 GMT - Eurozone November M3 money supply
0930 GMT - UK December final manufacturing PMI
1200 GMT - US MBA mortgage applications w.e. 27 December
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.
