The aussie and the kiwi are the laggards so far today as risk sentiment is a little shaky, with equities dragged lower by surging Treasury yields. S&P 500 futures are down 0.5% while Nasdaq futures are down 1.1% ahead of European morning trade.
The dollar is keeping steadier, with USD/JPY reversing an earlier drop from 114.50 to 114.70-80 levels currently.
Elsewhere, oil is reaching a pivotal crossroads as price is flirting with a firm break of $85 to see if there will be more legs to the upside run - potentially towards $95 or $100. But after four weeks of gains already, a technical pause shouldn't be ruled out.
Looking ahead to the rest of the day, the mood set out by the bond market remains a key theme to watch. Economic releases in Europe are not likely to play much of a role in impacting sentiment, so it's all about whether or not the uneasiness in equities so far will lead to any broader tones of risk aversion as the day plays out.
0700 GMT - UK December jobless claims change
0700 GMT - UK November ILO unemployment rate, employment change
0700 GMT - UK November average weekly earnings
0730 GMT - Switzerland December producer and import prices
1000 GMT - Germany January ZEW survey current conditions, outlook
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.