The main thing today is that US traders are back, or more specifically that the bond market is back open for trading. Treasury yields are looking to nudge higher again and that will be one to watch after the sudden turnaround on Friday. In case you missed it: US dollar jumps higher as Treasury yields pop. What's driving it.
This in turn will have broader market implications, both for the dollar and equities. USD/JPY is keeping slightly higher by 0.2% today to 146.75 as the bond market stays in charge for now. AUD/USD is one of the bigger movers today, down 0.6% to 0.6418 currently at the lows for the day as China worries weigh and the RBA kept the cash rate unchanged at 4.10% for a third straight meeting.
Looking to European trading, there won't be much on the agenda to shake things up. The PMI readings to come are the final estimates for August, so they shouldn't tell us anything we don't already know.
As such, the bond market will continue to be a key point of focus and that will also have an impact on the risk mood as the week looks to finally get started.
0715 GMT - Spain August services PMI
0745 GMT - Italy August services, composite PMI
0750 GMT - France August final services, composite PMI
0755 GMT - Germany August final services, composite PMI
0800 GMT - Eurozone August final services, composite PMI
0830 GMT - UK August final services, composite PMI
0900 GMT - Eurozone July PPI figures
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.
