Economic data coming up in the European session
CPI readings from the euro area in focus today
However, there are other key developments taking place with a lot of focus today likely to reside on month-end flows/fixing, the start of the OPEC ministerial meeting, and also potentially more Brexit murmurs as talks continue in London.
The pound is mildly firmer to start the day after staving off a break below 1.3300 at the end of last week, but is trading in between both its key hourly moving averages at 1.3315 and 1.3351 for the time being; near-term bias more neutral as such.
The yen is also a tad higher as equities are softer ahead of the end of November trading, with US futures seen lower alongside Asian equities for the most part.
Besides that, major currencies are little changed in general but as mentioned above, economic data today will be rather inconsequential given other stuff that is going on.
Gold broke key support below $1,800 and its 200-day moving average in holiday-thin trading at the end of last week, so let's see what is the appetite for sellers to drive price towards the swing region around $1,720-50 next.
As for oil, the key risk today will be the OPEC ministerial meeting that will take place at 1300 GMT. Some conclusions from the JMMC meeting yesterday:
0730 GMT - Switzerland October retail sales data
Prior release can be found here. An indication of consumption activity in the Swiss economy but it matters little as it won't materially affect the SNB policy stance currently.
0800 GMT - Switzerland November KOF leading indicator index
Prior release can be found here. The data here measures the future trends of overall economic activity in the Swiss economy. A minor data point.
0800 GMT - Spain November preliminary CPI figures
Prior release can be found here. Much like the rest of the region, Spanish inflation is expected to keep more subdued going into the year-end and will just reaffirm the need for ECB policymakers to step in with more action next month.
0900 GMT - SNB total sight deposits w.e. 27 November
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0930 GMT - UK October mortgage approvals, credit data
Prior release can be found here. A read of consumer credit and mortgage activity in the UK economy, which have been highlighting a contrast of the way the economy has been performing in light of the virus crisis.
1000 GMT - Italy November preliminary CPI figures
As mentioned with the Spanish release, inflation pressures across the region are expected to keep more subdued and this should reflect more of the same.
1300 GMT - Germany November preliminary CPI figures
Prior release can be found here. German inflation is estimated to stay more subdued in deflation territory, similar to last month, but we'll get a better sense of the national reading via the state releases throughout the day.
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.