The dollar and yen are lagging to start the day, as the push and pull mood continues on the week. It's all about risk sentiment and while there is some light breathing room after yesterday's meltdown in equities, the overall mood remains more cautious in my view.
The storm clouds are still hanging over markets and that is cause enough for investors to keep wary before the weekend comes along. The bright spot is that at least we are seeing some optimistic developments in Shanghai.
Otherwise, inflation worries, the global growth slowdown, and central bank policy tightening are factors that are dampening risk prospects for the most part.
Looking ahead, there won't be much on the economic calendar to really shake things up today. As such, it's all about the flows and the risk mood will be central in determining which way we're headed on the day.
0800 GMT - Eurozone March current account balance
0900 GMT - Eurozone March construction output
1000 GMT - UK May CBI trends total orders, selling prices
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.