A few outings to get things going, but it’s a public holiday in the UK
The yen is slightly weaker, with Japanese stocks rebounding to start the week, after the declines seen last week following Abe’s resignation.
US futures are also expected to trade higher to start the week with E-minis up around 0.5%, keeping the momentum good from late last week.
The dollar has hardly changed in all areas, but the pressure remains on the greenback as it continues to find no respite following the “change” in strategy by the Fed.
Keep in mind that it is a public holiday in London today so the trading conditions might be a bit finer than usual i.e. quieter maybe – all the more that it’s a Monday.
Going forward, we’ll have a few builds to get things going, but all eyes will be on US trading for the most part at the end of August.
06:30 GMT – Switzerland July retail sales data
0700 GMT – Preliminary CPI figures for Spain in August
08:00 GMT – Total SNB sight deposits on August 28
Your weekly check of deposits held at the SNB by Swiss banks. These data are an approximation of foreign exchange interventions.
08:00 GMT – Final Italy T2 GDP figures
09:00 GMT – Italy, preliminary August CPI figures
Italian inflation is also expected to remain more subdued, settling into deflationary territory, and only adds to the narrative that the ECB will maintain its current policy for at least an extended period.
12:00 GMT – Germany, preliminary August CPI figures
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.