The jump in the dollar has been the interesting story in markets as we look to wrap up the trading week. Wall Street closed slightly higher but the S&P 500 continues to keep below its 200-day moving average at 4,322 as buyers are contemplating if there is enough appetite to contest the key technical level.
Going back to the dollar, it is seen making headway despite Treasury yields staying in a bit of a bind. 10-year Treasury yields continue to flirt with its 100-day moving average but the greenback is not waiting around as it pushes past key technical levels against the euro, yen and pound as outlined here.
The fact that China is seeking a weaker yuan again could also be an additional tailwind for a stronger dollar at the moment.
As we look to wrap up the week, it's all about reading into the market moves above to see if the dollar can sustain the push from yesterday. UK retail sales later should reflect the worsening cost-of-living crisis in the UK and alongside double-digit inflation this week, it won't provide much comfort for the BOE in trying to balance out their policy outlook.
0600 GMT - Germany July PPI figures
0600 GMT - UK July retail sales data
0900 GMT - Eurozone June current account balance
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.
