Economic data coming up in the European session

Author: Justin Low | Category: News

Little on the agenda to start the new week

The market is off to a more sluggish start to the new week with the dollar and yen holding slight gains, as US futures keep lower in Asia Pacific trading.

After the record highs for the S&P 500 and Dow last week, price is seeing a slight pullback around 0.3% as we look towards European morning trade today.

EUR/USD continues to hold close to 1.1900 and lingering around its 200-day moving average at 1.1889 for the moment.

USD/JPY was bolstered by higher yields on Friday but keeps below its 100-hour moving average @ 109.70 at around 109.50-60 levels currently. Treasury yields are little changed today, keeping a touch lower with 10-year yields seen down 0.5 bps to 1.653%.

Elsewhere, gold stays on retreat as it backs away from resistance near $1,755 while Bitcoin is pushing back up above $60,000 again after the weekend move.

It is still all about risk sentiment and yields before we get to US CPI data tomorrow.

0800 GMT - SNB total sight deposits w.e. 9 April
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

0900 GMT - Eurozone February retail sales data
Prior release can be found here. After a poor start to the new year, euro area retail sales is expected to rebound a little in February but keep relatively subdued overall due to tighter virus restrictions still widespread across the region in Q1.

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.
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