Little of note in the countdown to the US non-farm payrolls release
Major currencies are trading more tepidly on the session, trapped in narrow ranges as the market starts to keep the focus on the US jobs report later today.
Although it will be a largely lagging indicator, it is still a key risk event that traders and investors watch so things may remain sidelined for the most part until the we're over that.
US futures are a touch higher after a mixed - mostly softer - session yesterday, while the euro is holding gains on a breakout above 1.1300 against the dollar after the ECB.
The main focus will once again stay on risk sentiment for the most part as key technical levels continue to attract some interest in the market ahead of the weekend.
EUR/GBP is near 0.9000 again amid the euro boost and as we await Brexit headlines, USD/JPY rests above 109.00 on a potential breakout in 10-year Treasury yields, GBP/USD resting in between its key daily moving averages, USD/CAD holding just above its 200-day moving average with OPEC+ a potential risk over the weekend, AUD/USD still near 0.7000 and AUD/JPY close to its December highs.
0600 GMT - Germany April factory orders data
Prior release can be found here. Once again, April figures should reaffirm the bottom of the fallout from the crisis so expect the release here to reflect that sentiment as factory orders are slated to tumble sharply again amid lockdown measures.
0700 GMT - Switzerland May foreign exchange reserves
Prior release can be found here. At this stage, this is more used to gauge SNB intervention but sight deposits data offer a more "real-time" and better indication in my view.
0730 GMT - UK May Halifax house prices
Prior release can be found here. A general indication of UK housing market conditions, which is expected to remain challenging amid the current economic situation - with the UK having just began easing restrictions recently.
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.
