It's been a real quiet session in Europe so far and the lack of any major economic releases today is one reason why that has been the case. In this environment, it's all about the next big data and even Powell emphasised on it yesterday in saying that will determine the Fed's reaction curve to the rates outlook. Here's some food for thought over the past week:
- The market will go where the data takes it
- Was the ECB that dovish yesterday?
- Is the market just scaring itself or is the fear justified?
- That Powell feeling
The US consumer price inflation data next week can't come soon enough.