Headlines:
- Up, up, and away
- USD/CAD retraces some of the drop from Friday
- SNB total sight deposits w.e. 31 December CHF 722.8 bn vs CHF 722.3 bn prior
- Eurozone December final manufacturing PMI 58.0 vs 58.0 prelim
- Germany December final manufacturing PMI 57.4 vs 57.9 prelim
- France December final manufacturing PMI 55.6 vs 54.9 prelim
Markets:
- USD leads, CAD lags on the day
- European equities higher; S&P 500 futures up 0.6%
- Gold down 0.4% to $1,821.86
- WTI up 0.5% to $75.60
- Bitcoin up 2.0% to $47,256
London markets are still closed so that saw a bit more of a quiet session in Europe today.
The dollar kept mostly steadier during the session, holding a light advance against the euro, pound and aussie. Meanwhile, USD/CAD is retracing some of its drop from Friday upon meeting key support levels as noted here.
EUR/USD is a little lower, sticking around 1.1335-50 while USD/JPY saw early gains ease up from 115.30 to 115.00-10. USD/CAD stuck with gains from Asia around 1.2670-80 levels for the most part.
Elsewhere, equities are picking up from where they left off in 2021 - pushing higher to start the year. European indices are up around 1% while US futures quietly crept higher, with S&P 500 futures up 0.6%.
It's a tentative start to proceedings but expect things to pick up during the week as real money flows start to return, before the focus shifts towards the US non-farm payrolls report on Friday.
