German GfK consumer confidence survey is on the agenda today
After a surge higher in yields early on yesterday abated, equities pushed forward with more solid gains as the market took the Fed's reassurance and ran with gains.
The dollar was among the weaker performers, as it fell alongside the franc and yen with the latter two bearing the brunt of the ramp higher in risk sentiment.
EUR/USD continues to flirt with key resistance around 1.2170-95 while USD/JPY tested 106.00 again but ultimately closed below the figure level for now at least.
GBP/USD saw gains ease a little but is keeping above 1.4100 as the pound stays perky but loses some steam following monstrous gains this month.
Elsewhere, USD/CAD has slid to a three-year low at 1.2500 with the loonie capitalising on higher commodity prices with oil also continuing to rally to $63.
Treasury yields are keeping higher once again today and that is feeding to higher real yields as well, even as breakevens are looking more settled this week.
That will continue to be a key spot to watch in case it offers some jitters to stocks (support for the dollar) towards the weekend, otherwise the rebound in risk sentiment and whether or not it can continue is still the key focus in trading today.
0700 GMT - Germany March GfK consumer confidence
Prior release can be found here. Consumer morale is expected to keep more on the subdued side amid tighter virus restrictions for the time being. A minor data point.
0745 GMT - France February consumer confidence
Prior release can be found here. Given little change in overall conditions, French consumer morale is estimated to keep at almost similar levels to January.
0900 GMT - Eurozone January M3 money supply data
Prior release can be found here. The trend in broad money growth should continue to reflect a push higher this year with the ECB still pumping the market with liquidity.
1000 GMT - Eurozone February final consumer confidence
1000 GMT - Eurozone February economic, industrial, services confidence
Prior release can be found here. Economic confidence is estimated to show a slight improvement though it is keeping near levels seen in Q4, as the current situation in the euro area still leaves a lot to be desired in terms of improvement. The vaccine rollout, at least in a significant and bigger way, can't come soon enough.
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.
