The bond market is still the key spot to watch at the moment and with Treasuries out for the day, we have to wait until tomorrow to get a better sense of the recent moves at the end of last week. The sizzling bid at the front end is the main talking point and we'll have to see if that carries over to this week.

For now, major currencies are more subdued with overall risk tones also looking more tentative. US stocks ended Friday on a more tepid mood as well, with the S&P 500 and Nasdaq flattish while the Dow was dragged down by bank stocks.

FX 15-01

Looking to European trading today, there will be some light data releases to work with. However, none of which that should be impactful in influencing the outlook for the ECB for the time being. It's all about inflation data these days, so everything else is mostly second-rate. That sets us up for a slower start to the new week at least.

0700 GMT - Germany December wholesale price index
0900 GMT - SNB total sight deposits w.e. 12 January
1000 GMT - Eurozone November trade balance data
1000 GMT - Eurozone November industrial production

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.