A pretty quiet calendar day ahead
Good day, everyone! How was your weekend? Hope you did have a good one and that you're ready to get back into the market for the new week. Once again, as it was on Friday, it's all about the Turkish lira still.
Fears of contagion is spreading across asset classes and we're seeing EM take a hit, alongside equities as well bond yields. The euro is also markedly lower in early trading as the dollar and yen are among the main beneficiaries in all of this. But given the relative collapse in TRY and ZAR, the reaction in the major bloc has been rather mild.
The calendar for European trading offers little today, so trading will be all about the ebb and flow - and the lira.
0800 GMT - Italy July final CPI reading
Inflation figures for Italy, not expected to do much for the Eurozone inflation rhetoric. But something worth noting in the event of any really skewed readings.
0800 GMT - SNB total sight deposits w.e. 10 August
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
That's all for the session. There's also German and French bill auctions if you're interested in those, but otherwise the macro themes in the market will dominate trading today once again. I wish you all the best of days ahead and as always, good luck with your trading!
