It's all about the risk mood currently, so either way economic releases will take a backseat today.
US stocks staged a remarkable comeback yesterday, one which will go down in the history books. The S&P 500 and Nasdaq turned around 4% and 5% losses respectively to end higher, with a surge of buying coming in the final few hours.
Although US futures are pointing lower today, there will be a keen sense of watchfulness to see if dip buyers can pull off yet another miracle.
For now, the market mood remains tentative with the yen and dollar keeping slightly firmer in the FX space. We'll see how things go but I would argue that if stocks can pull off another comeback, that will bode well for sentiment for the latter stages of the week.
0900 GMT - Germany January Ifo business climate index
1100 GMT - UK January CBI trends total orders, selling prices
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.
