The grind to the FOMC meeting later this week begins
The key risk event that the market is looking forward to this week is the Fed policy meeting on Wednesday and until then, we may be in for more of a placeholder couple of days with some choppiness and little firm direction in anticipation.
Major currencies are keeping quieter for now after some modest strength in the dollar at the end of last week. Meanwhile, equities continue to hold up decently with the S&P 500 at record highs as US futures are up a tad on the day.
Treasury yields are a little higher but from a technical perspective, bond buyers are still in control after the push below 1.50% last week.
There isn't much on the agenda in the session ahead to shake things up so things may be a bit more quiet and slow if anything else.
0630 GMT - Switzerland May producer and import prices
Much like everywhere else, Swiss producer prices are likely to keep higher amid rising input cost inflation due to supply constraints globally.
0800 GMT - SNB total sight deposits w.e. 11 June
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0900 GMT - Eurozone April industrial production data
Prior release can be found here. A bit of a lagging release as the market is still more focused on the 2H 2021 outlook at this point.
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.
