The dollar is hanging slightly lower on the day with USD/JPY notably retreating from being above 135.00 to 134.85-90 levels at the moment. There is a slight retreat in bond yields which is helping with the light action but the more meaningful moves today will come after the FOMC meeting surely.
In the meantime, it will be hard to read much into any of the market moves for the day in Europe. The overall risk mood is more tentative with US futures being little changed.
As we look towards European trading, this emergency meeting called by the ECB will be something to take note and it could lead to some calmer tones in regional bonds until we get more clarity on what the meeting is all about.
0630 GMT - Switzerland May producer and import prices
0645 GMT - France May final CPI figures
0900 GMT - Eurozone April trade balance data
0900 GMT - Eurozone April industrial production
1100 GMT - US MBA mortgage applications w.e. 10 June
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.
