Another light calendar day in the European morning today
Good day, everyone! Hope you're all doing well as we move towards the trading session ahead. There's been modest movement in the currencies space with the yen and kiwi being the notable movers. The former is gaining on softer risk tones while the latter is pushing ahead on cross flows - AUD/NZD - to start the day.
Other major currencies continue to sit tight in their respective ranges as the main focus remains on the dollar still amid US-China trade talks still to come this week.
Looking ahead, there isn't much to move things along on the session so expect markets to flip flop around trying to find a clear direction in trading today.
0645 GMT - France June business, manufacturing confidence
Prior release can be found here. General sentiment indicator towards French economic conditions. A minor data point.
1000 GMT - UK June CBI retailing, total distributive reported sales
Prior release can be found here. The readings here are an indicator of short-term trends in the retail and wholesale sector of the UK economy. The backlash following Brexit stockpiling in Q1 was seen in last month's data but the shock to the supply chain should recover slightly in the new month. Not a major release by any means though.
That's all for the session ahead. Also to come, we'll have RBA deputy governor Michele Bullock speaking in Berlin at 0705 GMT on 'Modernising the Australian payments system'. Given the topic, I wouldn't expect any major remarks on monetary policy to follow. I wish you all the best of days to come and good luck with your trading!
