A silencer on the data taking in the coming session
The market looks a bit calmer in trading today, with Asian stocks not really leaning on the optimism of another round of new all-time highs in the S&P 500 and Nasdaq yesterday.
US futures remain more stable while T-bill yields are still a bit higher, with 10-year yields rising 2 bps to 0.70%. The latter remains a place to watch in case it continues to lead to higher yen pairs in the coming sessions.
Major currencies don’t do much and stay in narrower ranges to start the new day. EUR / USD is a little lower at 1.1820 but is holding in a range of 22 pips.
Looking forward, there isn’t much to distract from the continued hustle and bustle in the market this week before arriving at the Jackson Hole Symposium tomorrow.
06:45 GMT – Consumer confidence in France in August
08:00 GMT – Switzerland August Credit Suisse Investor Confidence Survey
11:00 GMT – US MBA Mortgage Applications August 21
The weekly housing data in the United States measures the evolution of the number of mortgage applications supported by the MBA during the week. The focus will again be on buying, as this has been one of the most bullish points, highlighting that US economic conditions are not as tough as the recent drop suggested due to the impact of the coronavirus .
That’s all for the upcoming session. I wish you the best of days to come and good luck in your trading! Stay safe there.