Major currencies are mostly little changed for now, as we start to look towards the US CPI data later today. The euro caught a bit of a pop late yesterday on this headline here, which now raises the odds of a rate hike to ~75% - much changed from before here. EUR/USD is calmer so far today though, stuck in a 20 pips range and holding little changed at 1.0747 currently.
We could see European traders come in to follow through on the above but in the context of broader markets, it will be a waiting game until we get to the US CPI data.
In terms of data releases in the session ahead, UK monthly GDP will be a focus point for the pound. July is set to show a decline in activity in the UK, not reflecting any summer relief for the economy. There's not much else besides that, so we'll have little to work with until we get to the main event in US trading later.
0600 GMT - UK July monthly GDP figures
0900 GMT - Eurozone July industrial production
1100 GMT - US MBA mortgage applications w.e. 8 September
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.
