The dollar is holding a touch firmer across the board as we see more back and forth trading across most major currencies in trading this week. The euro is still holding higher on the balance of things, after surging inflation figures from Spain and Germany yesterday spurred on the rates market.
EUR/USD is still trading at four-week highs of 1.1157 but off its earlier high on the day of 1.1185. Meanwhile, USD/JPY is inching back above the 122.00 level though trapped in between its key hourly moving averages of 121.64 and 122.63 for the time being. That leaves quite some room for both buyers and sellers to play around with ahead of month-end and the Japanese fiscal year-end.
Elsewhere, stocks snapped a run of gains yesterday but the overall mood is still holding up and is much improved from the start of the month. The Treasuries market rout is also taking a light breather for the most part, though European yields are pushing higher as markets are taking to the inflation surge as to thinking the ECB might be more aggressive.
Looking ahead, economic data releases won't offer much besides a distraction but French inflation later today will perhaps keep European yields underpinned as it was yesterday.
0600 GMT - Germany February retail sales
0600 GMT - UK March Nationwide house prices
0600 GMT - UK Q4 final GDP figures
0645 GMT - France March preliminary CPI figures
0755 GMT - Germany March unemployment change, rate
0900 GMT - Eurozone February unemployment rate
1130 GMT - US March Challenger job cuts, layoffs
Not forgetting, there is also the OPEC+ meeting later today but it should be a rather quick one again as the bloc still sees no reason to deviate from the status quo.
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.