German Ifo business survey for June is due today

The market is keeping calmer for the most part as we look towards European trading in the session ahead, with the kiwi notably sitting lower after the RBNZ commented that recent appreciation in the currency has weighed on export earnings.

That dragged NZD/USD back under 0.6500 with other major currencies still mostly holding tight ranges after yet another softer day for the dollar in overnight trading.

Risk is keeping more steady so far with Asian equities seeing little change and US futures also keeping closer to flat levels to kick start the day.

Although we observed gains again in US trading yesterday, rising US coronavirus cases is still something to be mindful about. Sure, it isn't leading to the re-imposition of lockdown measures (yet) but the fear of the situation musn't be underestimated as well.

Looking ahead, there isn't much on the data docket to shift the dial in the market mood but we'll see if investors can gather further direction on the week.

So far, the gains in risk/stocks are decent to start the week but nothing too suggestive of another major rally. The Dow is still trading under its 200-day moving average and the S&P 500 is failing to take out recent highs at around the 3,153 to 3,155 region.

Another spot to watch is gold as price action looks suggestive of a bullish breakout towards fresh highs since 2012 but we'll see if buyers can keep that conviction going.

0645 GMT - France June business, manufacturing confidence

Prior release can be found here. A general gauge of economic sentiment in France, which should show a relative improvement compared to May. A minor data point.

0800 GMT - Germany June Ifo business climate index

Prior release can be found here. Much like the PMI reports from yesterday, the readings here should reaffirm a bounce in economic sentiment in June but the overall situation should still remain more subdued than they were relative to pre-virus conditions.

0800 GMT - Switzerland June Credit Suisse investor sentiment

Prior release can be found here. The reading measures analysts' expectations on the Swiss economy and other economic expectations over the next 6 months. Low-tier data.

1100 GMT - US MBA mortgage applications w.e. 19 June

Weekly US housing data, measures the change in number of applications for mortgages backed by the MBA during the week. The focus will once again be on purchases as that has been one of the more bullish spots underpinning that US economic conditions are not as dire as first suggested by the recent dip due to the coronavirus impact.

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.