The dollar is softer to start the new week and that’s the main theme heading into European trading today. Equities sentiment is more muted while Treasury yields are little changed, as major currencies are the ones on the move. USD/JPY dipped to a near six-week low of 148.70 earlier but is now holding just above 149.00, though still down 0.4% on the day.
There won’t be much in European morning trade to really shake things up, as there is little on the economic calendar. German producer prices for October are on the cards but that’s not one to move markets and there’s not much else besides that, even when you account for US trading later on.
Keep in mind that trading this week is likely to feature lesser liquidity towards the end of the week amid the Thanksgiving holiday in the US. That falls on a Thursday but typically, it’s a holiday that extends through to the weekend and so the focus might stay more on the euro then with PMI data out just before the end of the week.
0700 GMT – Germany October PPI figures 0900 GMT – SNB total sight deposits w.e. 17 November
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.