We are seeing steadier tones across the board for the most part, with some pushing and pulling in dollar pairs so far this week. It's just that time of the year and that is not leaving traders with much to work with before we get to the main event tomorrow.
Dollar pairs are little changed in general and continuing to mostly keep within the ranges that we have seen in the past few sessions. There's no firm direction I would say so far this week, with the greenback just keeping steadier after the Friday losses.
EUR/USD sits at 1.0975 on the day and is holding just above its 100-day moving average of 1.0925. But any major upside momentum is still left wanting with the pair unable to sustain any breaks above 1.1000 for now.
USD/JPY while having a decent recovery this week to back above 143.00, is perhaps seeing gains more limited now upon approaching the highs from last week at the 143.54-88 region. That should keep things in check before the US CPI report tomorrow.
As for today, there isn't really a lot for markets to react towards. In fact, in Europe there won't be any major data releases at all. As such, the rangebound technicals and market mood are the only things to go on before we wait on inflation driver on Thursday.
1100 GMT - US MBA mortgage applications w.e. 4 August
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.
