A quiet one in Europe today

The market already looks sluggish to start the day and amid the indecision this week, it is tough to see any firm convictions amid the lack of key releases to follow in Europe.

It sure looks like traders are keeping one eye on mounting risk factors especially in China, while also turning a blind eye towards all of that right now. Hence, the pushing and pulling before we actually get to more concrete trading sentiment.

FX is little changed for now with the kiwi not really moving too much despite a beat in NZ Q2 GDP earlier while the aussie is mildly softer following a record number of COVID-19 infections (but vaccinations are progressing well) and a much softer jobs report.

Given the light day coming up in Europe, we may be in for more of a quiet one before North American traders enter the fray later.

0900 GMT - Eurozone July trade balance data

Prior release can be found here. Trade conditions are expected to continue to improve/normalise as a trend as the recovery takes shape so there won't be much else to read from the report.

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.