S&P 500 futures are down by around 0.3% after a more positive showing last week. It was the best week for Wall Street since the turn of the year and dip buyers will be looking to carry that momentum to test the 200-day moving average @ 4,470 this week.

But for now, risk tones are looking more cautious with the dollar also sitting a touch firmer on the day. That said, changes among major currencies are still relatively minor so there isn't much to work with.

The Russia-Ukraine war is still dragging out but markets in general are working to shift that narrative away from the main spotlight.

For the most part, risk aversion is being faded unless there is a major headline to threaten that. All else being equal, it seems like we will be going forward with a keen focus on inflation and central banks soon enough - more than what it is now.