It is all about the risk mood today as equities are faltering and we're seeing bonds start to be bid amid a flight to safety. It's a bit of a convenience for bond flows as well considering the selloff to start the year, so perhaps some money is taken off too. This comes as the charts are starting to look ugly for US stocks and that is something to watch out for.
In FX, the dollar and yen are holding up though the euro is also standing its ground somewhat so far on the day. Commodity currencies are the laggards but not by much yet, but I reckon we could see a deeper bout of risk aversion later on in the session.
There won't be much on the economic calendar to shake things up with UK retail sales being the only notable release. Even then, it isn't going to hold much significance as a BOE rate hike in two weeks' time is already more than necessary.
0700 GMT - UK December retail sales data
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.