Economic data coming up in the European session
Eurozone final CPI figures for March on the agenda today
The Treasury rally is cooling off so far on the day and that is seeing a mild pullback in the market after yesterday's price action.
The dollar is holding slightly higher, though ranges remain relatively narrow, while US futures are seen a touch lower after the solid gains yesterday.
Elsewhere, gold is keeping flatter after the breakout move above resistance @ $1,755 - trading to fresh highs since 26 February and may look poised for a push towards $1,800.
As Treasuries look to find their footing today, the break below 1.60% in 10-year yields is one that signals that perhaps we will be seeing yields settle in a lower range for the next few weeks until there is more evidence of consistent robust US economic data.
That is likely to keep dollar strength contained but I'd argue that any major correction lower in yields may be a little unlikely as long as the data outperforms.
For stocks, this continues to be pretty much a Goldilocks scenario since March i.e. yields not breaking to fresh cycle highs, US data continues to sparkle, Fed continues to keep the printing press firing on all cylinders. What's not to like.
0630 GMT - Switzerland March producer and import prices
Prior release can be found here. A general indication of price pressures in the Swiss economy, which is likely to benefit from base effect adjustments. A minor data point.
0900 GMT - Eurozone February trade balance data
Prior release can be found here. The gradual recovery towards pre-virus levels is continuing and trade conditions are expected to keep trending that way in the months ahead.
0900 GMT - Eurozone March final CPI figures
The preliminary report can be found here. The final release here should just reaffirm a stronger annual inflation estimate due to base effect adjustments with the core reading (having stripped that out) actually seen lower than February. That will keep the ECB more tentative in reading too much into any inflation spikes in the months ahead as well.
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.