We're off to a decent start in the new year, with the Japanese yen making some headway as USD/JPY threatens a firm break below the key 130.00 mark at the moment. Gold is also a modest mover, with the precious metal up 0.9% to $1,840 as the upside break from the end of last year continues to play out.
Besides that, equities are holding up with S&P 500 futures seen up 0.3% currently. That comes after a bit of a late jump on Friday, though the index still closed 0.25% lower at the time. It's a brand new year and as liquidity conditions pick up, I'd say that equities will remain tentative in the early days.
Looking ahead to Europe today, there isn't much on the agenda but German inflation will be one to watch for further signs of easing price pressures in the region. The state readings will come first and that will set the tone before the national release later in the day.
0830 GMT - Switzerland December manufacturing PMI
0855 GMT - Germany December unemployment change, rate
0900 GMT - SNB total sight deposits w.e. 30 December
0930 GMT - UK December final manufacturing PMI
1300 GMT - Germany December preliminary CPI 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.
