Month-end trading in focus today

It feels like a "let's get this out of the way" kind of situation now as there wasn't any key drivers for the market moves yesterday. Equities saw a modest bounce but the gains fizzled towards the end, with the S&P 500 still keeping below the 4,000 mark. In FX, the dollar was softer with notable bounces seen in GBP/USD, AUD/USD, and NZD/USD during the day.

It'll be a tricky one to navigate today, before we turn the focus on to euro area inflation data later in the week. Month-end flows will be a consideration to add to the more delicate market mood at the moment. And Citi is noting that we should see dollar buying, so just be wary of that (or perhaps the opposite) especially ahead of the London fix London fix The London fix is a set time of day at which foreign exchange market makers, including banks and other large financial institutions, agree on the price of a particular currency pair. This price is then used to trade the currency pair between market makers and other clients, and is intended to provide a fair and consistent price for the currency pair. The London fix is at 4 pm in London, which is typically 11 am in New York but that can vary depending on daylight savings time schedules. At times, The London fix is a set time of day at which foreign exchange market makers, including banks and other large financial institutions, agree on the price of a particular currency pair. This price is then used to trade the currency pair between market makers and other clients, and is intended to provide a fair and consistent price for the currency pair. The London fix is at 4 pm in London, which is typically 11 am in New York but that can vary depending on daylight savings time schedules. At times, Read this Term later today.