It's not like markets need any more reason to not move, right? Rightttt? I mean, we've been seeing some typical summer lull days in Europe as of late and today might be no different. All the action and turnaround in market moves seems to be happening in the US and yesterday was another case in point.
But as always, it is best to prepare for just in case moments in markets. And in that lieu, it is important to identify that the bond market is at the wheel at the moment.
Major currencies are not showing much appetite today with the dollar continuing to sit in a firm spot. EUR/USD is at 1.0865 but trading in 22 pips range so far, though the downside momentum is building. USD/JPY is extending its upside momentum as well, rising above 146.00 yesterday to 146.30 levels currently - sitting flattish on the day.
The aussie and kiwi are the laggards though with the former dragged lower by a poor Australian jobs report earlier. And with the ongoing worries surrounding China and a weaker yuan, it isn't quite helping sentiment with the antipodeans currently.
Looking ahead to Europe, we are likely to see a continuation of things at best. At worst, we're in for yet another lull of a session.
0900 GMT - Eurozone June trade balance data
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.