On the two related focus points:
As such, European trading today might not offer too much if Tokyo decides to let things be. USD/JPY is at 155.52 currently as buyers are slowly pushing the limit but the rest of the major currencies bloc is rather muted.
That will keep things more interesting ahead of the US Q1 advance GDP data later.
In other markets, equities are down after a more mixed performance yesterday. Meta earnings disappointed and are sparking renewed concern among investors, with tech shares leading the downside. S&P 500 futures are down 0.6% currently. So far, that's not leading to any broader risk off mood in markets just yet though.
Looking to the session ahead, there isn't much on the data docket to really influence things. So, the spotlight will continue to stay on the above developments for the most part.
0600 GMT - Germany May GfK consumer sentiment
0645 GMT - France April business confidence
1000 GMT - UK April CBI retailing reported sales
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.