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Major currencies are little changed with the dollar still sitting in a firm spot overall, as equities continue to stay pressured as well for the most part. USD/JPY remains a focus as it runs up to near 147 today with traders testing the limits of the resolve by Japanese authorities. The 1998 high came in at 147.67 so that will be a key technical spot to be mindful about next.
Looking at the equities space, S&P 500 futures are tepid but this week has been a poor one for stocks. The cash index is looking to breach below the 200-week moving average and the US CPI data later today could be a trigger for a more pronounced selloff towards the end of the week:
As for European morning trade, it will likely be a placeholder session as we await the US CPI data at 1230 GMT. This is the sort of new NFP day, so that’s all you need to know.
0600 GMT – Germany September final CPI figures
0630 GMT – Switzerland September producer and import prices
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.
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