A quiet one on the data docket to start the week
That said, with things being active in the bond market amid safety flows, we could see things be less subdued in Europe unlike Thursday and Friday last week.
Delta variant concerns, which arguably is still being underestimated, are emerging more strongly and is not helped by softer data in recovering economies such as the US, Europe, and UK - adding to the situations in China, Japan, and Australia.
10-year Treasury yields are dragged down to 1.25% and that is pinning USD/JPY lower to 109.35-40 while commodity currencies are also slightly softer as the risk mood is keeping more on the defensive for the time being.
AUD/USD is down 0.4% to 0.7340, not really getting much help from weaker data from China earlier in the day. That said, the pair is still keeping within its range over the past few weeks - seen in between 0.7300 and 0.7400 for the most part.
US futures are also lower, down between 0.1% to 0.3%, so that is all pointing towards some light degree of risk aversion - which could extend - going into the session ahead.
0800 GMT - SNB total sight deposits w.e. 13 August
Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.
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.
