Little on the agenda today but risk is in a better spot
US equities put up a better performance in trading yesterday, with the S&P 500 even taking out key resistance at 3,233 to 3,235 to close at its highest level since February:
Add the fact that European leaders have reached a compromise on the recovery fund, that bodes well for the risk mood as we look towards European trading later.
For US stocks, earnings will still be a key focus area with the likes of Coca-Cola, Microsoft, Tesla, Intel, and American Express all set to report some time this week. But for now, risk trades can take heart in the more positive developments from trading yesterday.
In the currencies space, the euro is a little lower following the agreement on the recovery fund as we see a 'sell the fact' play. Elsewhere, other major currencies are keeping in tighter ranges for the most part to start the day.
0600 GMT - UK June public sector financing figures
Prior release can be found here. A continued look at UK debt levels in general, which have become rather bloated, unsurprisingly, due to the response to the virus crisis.
0600 GMT - Switzerland June trade balance data
Prior release can be found here. There was little improvement in trade conditions from April to May, but May to June should reflect a better situation though likely to keep below pre-virus levels for both exports and imports still.
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.
