Eurozone final CPI for June due later in the day

The market is keeping steadier ahead of European trading today, with risk tones faring better with Treasury yields seeing a slight rebound off 1.30% to 1.32%.

Commodity currencies are getting a slight lift with the kiwi leading gains as RBNZ rate hike expectations continue to pour in after the hot NZ CPI data earlier here.

The aussie is getting an inadvertent lift as a result, though gains are not as great as the kiwi with NZD/USD having pushed back above 0.7000.

Elsewhere, USD/CAD is backing away from a test of 1.2600 after having closed in on its 200-day moving average - a key technical level to watch for the loonie.

US retail sales data will provide the next key catalyst for the market before the weekend so let's see if there will be any major twist in the final day of the trading week.

0900 GMT - Eurozone May trade balance data

Prior release can be found here. Trade conditions are still gradually improving and that is expected to continue through to 2H 2021 as a trend.

0900 GMT - Eurozone June final CPI figures

The preliminary report can be found here. As this is the final release, it shouldn't offer too much with core inflation still stuck just below 1% for now. That won't pressure the ECB into any major debate on tightening policy and it likely will stay that way in 2H 2021.

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.