Besides some potential positioning plays ahead of the key risk event, there won't be much else to scrutinise in markets in the session ahead. So far, there is a lack of interest and appetite with major currencies being little changed for the most part.
The 15 pips range for EUR/USD today exemplifies the mood, with USD/JPY continuing to do a bit of a dance around 135.00 as traders are not able to find much conviction to reject or break back above the key technical level.
Elsewhere, US futures are also little changed with S&P 500 futures flat and Treasury yields are also not doing much on the day. 10-year yields are up 1 bps to 2.794% but is still keeping below its 100-day moving average at 2.871%. That will remain a key level to watch if bond sellers return after the US CPI data later today.
