Economic data coming up in the European session

Author: Justin Low | Category: News

Germany ZEW economic sentiment survey on the agenda today

There isn't much going on in the FX space to start the day, though the aussie and kiwi are slightly softer though nothing too significant for the time being.

Equities look a little tentative with US futures holding about 0.2% lower after a mixed showing yesterday, with the S&P 500 and Dow retreating a touch after the record highs on Friday while the Nasdaq managed to close higher.

The bond market though is hinting at perhaps a focus on stronger US data, with 10-year Treasury yields inching above 1.30% and looking to buck the trend over the past two-and-a-half months. Tomorrow's US CPI data will be the next key risk event.

For now, the tussle between the post-NFP momentum and delta variant concerns will continue to play out but either way, I reckon the dollar will be able to keep a footing.

The summer mood in Europe may offer some push and pull in the session ahead but I don't see that translating to any material softness in the greenback - at least for now.

0900 GMT - Germany August ZEW survey current conditions, expectations
Prior release can be found here. The current situation reading is estimated to improve further amid the more optimistic conditions at the moment but expectations are estimated to moderate and dip amid concerns of the spread of the delta variant going into autumn.

1000 GMT - US July NFIB small business optimism index
Prior release can be found here. This is an index which measures the opinion of small businesses on the economic conditions in the country.

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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