Major currencies are not hinting at much today, with narrow ranges prevailing so far. All eyes remain on the dollar with EUR/USD still unable to make up its mind on a downside break below 1.0800. Meanwhile, USD/JPY did bounce strongly back above 138.00 yesterday and that could be a catalyst for a further run higher amid higher Treasury yields.
Elsewhere, equities are still sending mixed signals with the Dow ending lower again while the Nasdaq i.e. tech stocks continue to shine with another solid close higher. The S&P 500 remains a bit caught in the middle though, still holding just below its 2 February high at 4,195 upon yesterday's close.
Looking ahead, euro area PMI data today is expected to show a slight consolidation of the growth expansion in recent months. That should continue to allow the ECB to stick with tighter policy for now. But just be wary in case of any downside miss and that could weigh on bond yields and broader market sentiment.
0715 GMT - France May flash manufacturing, services, composite PMI
0730 GMT - Germany May flash manufacturing, services, composite PMI
0800 GMT - Eurozone May flash manufacturing, services, composite PMI
0800 GMT - Eurozone March current account balance
0830 GMT - UK May flash manufacturing, services, composite PMI
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.