Economic data coming up in the European session
A couple of releases to move things along but it is a UK holiday
The yen is mildly weaker with Japanese stocks rebounding to start the week, following the declines seen last week in the wake of Abe's resignation.
US futures are also seen trading higher to start the week with E-minis up ~0.5%, keeping up the good momentum from the end of last week.
The dollar is keeping little changed across the board but pressure remains on the greenback as it continues to fail to find reprieve following the Fed's strategy "change".
Do be reminded that it is a London holiday today, so trading conditions might be a bit thinner than usual i.e. more quiet perhaps - especially since it is a Monday.
Looking ahead, we'll have a couple of releases to move things along but all eyes will look towards US trading for the most part as we round off the month of August.
0630 GMT - Switzerland July retail sales data
Prior release can be found here. Swiss consumption activity slumped a little in June following the massive rebound in May, but overall conditions should show some minor improvements relative to Q2 for the most part. That said, any hiccups will be concerning and will just add more reasons for the SNB to maintain its current policy stance.
0700 GMT - Spain August preliminary CPI figures
Prior release can be found here. Spanish inflation is expected to remain subdued - sitting in deflation territory - and coupled with the fact that price pressures across the region are also going nowhere, should keep the ECB's current policy well in place.
0800 GMT - SNB total sight deposits w.e. 28 August
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0800 GMT - Italy Q2 final GDP figures
The preliminary release can be found here. As this is the final release, it isn't one of particular significance as the market is more focused on the recovery phase currently.
0900 GMT - Italy August preliminary CPI figures
Italian inflation is also expected to keep more subdued, settling into deflation territory, and just adds to the narrative that the ECB will keep its current policy stance for an extended period of time at the very least.
1200 GMT - Germany August preliminary CPI figures
Prior release can be found here. German inflation is also expected to keep more subdued and we'll get a better sense of what to expect from the national reading later via the state readings releases throughout the session.
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.