I would say today is when the new week officially starts but there is the element of month-end trading to be wary about. That could complicate things a little before we settle on a firmer theme this week.
Considering the US holiday yesterday, markets stuck with the trading themes from last week but we're seeing more mixed tones now on the new day. The dollar is regaining some ground across the board while the equities mood is looking fairly more tepid.
Meanwhile, bond yields are pushing higher with 10-year Treasury yields marked up by nearly 10 bps to 2.84%. That follows the surge in European bond yields yesterday as well with 10-year German bund yields moving up by over 8 bps to 1.04%, reacting strongly to the inflation figures from Spain and Germany.
The focus of economic data will continue to center around inflation with the French and Eurozone figures set to be released. The latter should see an upside surprise to the estimated +7.7% y/y reading after the stronger-than-expected numbers from Spain and Germany yesterday.
0600 GMT - Switzerland April trade balance data
0645 GMT - France Q1 final GDP figures
0645 GMT - France May preliminary CPI figures
0700 GMT - Switzerland Q1 GDP figures
0755 GMT - Germany May unemployment change, rate
0800 GMT - Italy Q1 final GDP figures
0830 GMT - UK April mortgage approvals, credit data
0900 GMT - Eurozone May preliminary CPI figures
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.
