A light one on the data docket to wrap up the week in Europe
The market continues to chop around on the week, trying to balance out economic risks and dovish tapers from major central banks for the most part.
Risk trades are breathing a little easier going into European trading, with the dollar a touch lower across the board except against the yen.
10-year Treasury yields are back up to 1.31% and that is keeping yen pairs a little higher but the bond market continues to reflect more indecision more than anything else.
The market is looking for a steady hand to guide it through this ruffled period but the Fed isn't really helping as they are reaffirming taper expectations despite the present number of risk factors that are in play at the moment:
The push and pull is likely to continue through to the weekend but dip buyers in equities may feel a bit more comfortable to step back in after having seen consecutive loss days - which haven't quite been a norm as of late especially for US stocks.
0600 GMT - Germany August final CPI figures
The preliminary report can be found here. The final readings should just reaffirm strong annual inflation in Germany but owing much to base effects amid the VAT reduction that took place in 2H 2020.
0600 GMT - UK July monthly GDP data
Prior release can be found here. The UK economy is expected to grow slightly in July but the overall expansion should be more modest as compared to June. Overall economic conditions are still holding up for the most part but growth expectations have certainly peaked in the UK after the summer and the report here is likely to reaffirm that.
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.
