Major currencies aren’t doing a whole lot though the dollar is mildly softer as we look towards European morning trade. The ranges are still relatively narrow, so let’s see if there will be any appetite to stretch them out later on.
Stocks are at least enjoying a decent showing since Friday last week, with the selling that usually hits in US trading absent in the past few sessions. The S&P 500 finished higher by 0.6% yesterday but is still down roughly 3.4% on the month in August.
Month-end flows will be in focus in the days ahead, before the attention shifts towards the US non-farm payrolls on Friday. That will apply to all markets basically.
For today, London traders will return back to action so we could see things pick up in Europe. But given the lack of appetite and interest in general to start the new week, there might not be any firm direction for now. And a lack of key data releases in Europe today won’t be of much help. But things should pick up later in the week as we will have CPI data to come.
0600 GMT – Germany September GfK consumer sentiment
0645 GMT – France August consumer confidence
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.