Economic data coming up in the European session
Euro area manufacturing PMI on the agenda to start the new week/month
It's a nice feeling when we kick start a fresh new month with a brand new week.
Major currencies are keeping more subdued with little change across the board, with the risk mood looking more mixed as equities are clawing back losses from Friday while Treasury yields are still dropping. 10-year yields are down 1.7 bps to 1.222%.
US futures are pointing higher, with S&P 500 futures up 0.5% on the day so far.
There isn't much in terms of key releases in the session ahead so the market will have slim pickings in searching for fresh direction to start the week.
ICYMI, you can check out Adam's rundown on August seasonals here.
0600 GMT - Germany June retail sales data
Prior release can be found here. German retail sales is expected to keep with the reopening bounce in June, as consumption activity holds up going into the summer.
0630 GMT - Switzerland July CPI figures
Prior release can be found here. Overall inflation in the Swiss economy is expected to keep more subdued, even with broader price pressures increasing globally. This won't do much to get the SNB off their seats.
0715 GMT - Spain July manufacturing PMI
0730 GMT - Switzerland July manufacturing PMI
0745 GMT - Italy July manufacturing PMI
0750 GMT - France July final manufacturing PMI
0755 GMT - Germany July final manufacturing PMI
0800 GMT - Eurozone July final manufacturing PMI
The focus will be on the final releases in France, Germany, and Eurozone, although they should just reaffirm a modest performance in the manufacturing sector even as capacity constraints and increasing cost pressures amid supply disruptions dampen the mood a little. Those will be issues to watch in the months ahead in case it bites harder.
0800 GMT - SNB total sight deposits w.e. 30 July
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
0830 GMT - UK July final manufacturing PMI
The preliminary report can be found here. The final report should just reaffirm a bit of a dent in the UK recovery amid weaker demand conditions and supply chain disruptions, adding to staff shortages due to the self-isolation restrictions.
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.