A light one to wrap up the week
The dollar is trading more mixed on the session, sitting mildly softer after the modest gains yesterday after surprise data beats in the US.
That reaffirms taper timeline expectations going into the FOMC meeting next week while stocks rocked back and forth in a choppy session before ending slightly weaker. The volatility isn't likely to ease today with quadruple witching on the cards.
All things considered, the market is likely to just settle with more of the indecision this week but keep an eye on risk sentiment as that could take the lead before the weekend.
0600 GMT - UK August retail sales data
Prior release can be found here. After the miss in July, retail sales activity in the UK is estimated to bounce back slightly in August. The only comfort to any miss on estimates will be that retail sales are likely to still come in well above pre-pandemic levels but there is scope for moderation after the reopening and buzzing summer.
0800 GMT - Eurozone July current account balance
Prior release can be found here. General indication of flows in/out of the Eurozone economy.
0900 GMT - Eurozone July construction output
A lagging indicator of activity but one that should continue to reaffirm a gradual pickup over time as the recovery continues.
0900 GMT - Eurozone August final CPI figures
The preliminary report can be found here. The final readings should reaffirm the surge in inflation in the euro area last month, keeping pressure on the ECB's 'transitory' narrative as we look towards the back-end of the year.
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.
