The dollar was steadier in thin holiday trading yesterday but gave back some of that today, as we await the opening of European markets after the long weekend. In the current situation, markets are getting more confident about the Fed’s rate hike by 25 basis points after the US jobs report on Friday.
However, just remember that there will be major risk events that could change this price later in the week. These will be important drivers of trade sentiment, so we may be on a slower pace ahead of US CPI data tomorrow in particular.
US futures haven’t changed much with the bond market not doing much either, with the 10-year Treasury yield seen near 3.40% at the moment.
Looking ahead, there will be some releases in Europe to get things moving but nothing that will have a significant impact on the markets.
0800 GMT – total demand deposits with the Swiss National Bank on April 7
0830 GMT – Eurozone Investor Confidence for April Sentix
0900 GMT – Eurozone retail sales data for February
1000 GMT – NFIB Small Business Optimism Index for the US month of March
That’s it for the next session. I wish you all the best in the coming days and good luck with your trading! Stay safe out there.