Another quiet day on the data docket in Europe
US stocks once again proved that it will take more than the constant barrage of pessimistic virus headlines to drag it down for two consecutive days as the risk mood continues to rock back and forth in trading so far this week.
The late rally in the final hour of trading is sort of the "classic" these days. Meanwhile, the Nasdaq continued its run of not seeing back-to-back losing days since 12-13 May with the S&P 500 also seeing its run stretch from 10-11 June.
That in turn put pressure on the dollar, with cable even rising back above 1.2600 and now we're starting to see EUR/USD test waters above 1.1350 and AUD/USD close to the 0.7000 handle once again ahead of European trading today.
US futures are keeping more tepid at the moment though, with S&P 500 futures closer to flat levels while major currencies are also hanging on to tighter ranges despite dollar pairs close to the extremes seen in recent weeks.
Looking ahead, risk will continue to be a key focus with another round of US weekly jobless claims set to follow later in North American trading as well.
0600 GMT - Germany May trade balance data
Prior release can be found here. Trade conditions are expected to improve in May amid the easing of restrictions, but expect import and export levels to remain highly subdued overall relative to pre-virus conditions.
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.
