The Japanese yen is the notable mover so far today with USD/JPY being down 0.7% currently, owing to this earlier report. The rest of the major currencies are more pensive and with good reason, as all the focus and attention today will be on the US CPI data coming up later at 1330 GMT.
It was a good day for stocks and bonds as well yesterday, as broader markets seem to be holding some optimism that we are likely to see US inflation come in on the softer side again. US futures are little changed now with bond yields just a touch lower following yesterday's retreat. The S&P 500 chart is starting to get rather interesting from a technical perspective:
An underwhelming set of inflation numbers later today could be the trigger that buyers have been seeking, to try and break above the 200-day moving average (blue line) as well as key trendline resistance (white line) from last year. So, let's see if that will be the case.
Looking ahead to Europe, it'll likely be a quiet one and even with choppy flows, don't expect there to be much reasoning or conviction behind that as the US CPI data will be the ultimate driver of price action thereafter.
0900 GMT - ECB releases December economic bulletin
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.