Some light releases to move things along on the day
Major currencies are keeping in narrow ranges so far as the market is taking a slight breather after plenty of back and forth action in terms of risk and dollar sentiment.
EUR/USD is keeping within a 9 pips range so far and even the antipodeans are rather constricted on the day with AUD/USD holding within an 18 pips range and NZD/USD seen within a 14 pips range only.
That leaves plenty of room to roam in the session ahead with equities sentiment keeping firmer. US futures are up around 0.4% to 0.7% while 10-year Treasury yields are also up 1.6 bps to near 1.54% so expect any stretching in FX to keep with the market theme.
I reckon we may be in for yet another day of pushing and pulling but after the rebound in US stocks yesterday, perhaps dip buyers may show more resilience once again today.
All that before we get to the US non-farm payrolls release tomorrow.
0545 GMT - Switzerland September unemployment rate
Prior release can be found here. The Swiss jobless rate is estimated to tick a bit lower as labour market conditions maintain some improvements going into year-end.
0600 GMT - Germany August industrial production data
Prior release can be found here. German industrial output is estimated to ease a little in August and the outlook is not helped by the ongoing supply and capacity constraints.
0600 GMT - UK September Halifax house prices
Prior release can be found here. UK house prices are estimated to have pushed higher last month as demand conditions continue to keep more robust for now, bolstered by an array of macro factors which could help to maintain the trend through to year-end.
0645 GMT - France August trade balance data
Prior release can be found here. General read of trade conditions in France, which as a trend should improve further over time as the economy recovers from the pandemic.
0700 GMT - Switzerland September foreign currency reserves
A proxy read on FX interventions by the SNB, which should just serve to reaffirm that the central bank is still there to step in when they see fit to counteract swissie strength.
1130 GMT - US September Challenger layoffs, job cuts
Prior release can be found here. A reminder that it is NFP week in the market. The data provides information on the number of announced corporate layoffs by industry and region and acts as a general labour market indicator.
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.
