The dollar is holding firmer to start the day, with USD/JPY on approach to 125.00 once again. This comes as the bond market rout continues to gather pace to start the new week, with Treasury yields hitting fresh highs for the year.
The euro saw a slight advance early on, opening with a gap higher only for it to all dissipate against the greenback in Asia trading. The first round of the French election results were a relief but the runoff could be a lot closer than it looks.
Equities are looking more sluggish with S&P 500 futures also pointing down 0.6% currently. That continues the poor mood from last week with worries growing about the global economy amid the Shanghai lockdown and also surging inflation pressures, adding to tighter policy by central banks.
Looking ahead, there isn't much on the agenda to really shake things up but there will be bigger fish to fry in the days ahead. US CPI data (Tuesday), retail sales (Thursday), UK CPI data (Wednesday), Australian labour market report (Thursday) are among the key releases to watch alongside the RBNZ (Wednesday), BOC (Wednesday), and ECB (Thursday) policy decisions.
It will be a bit of a holiday-shortened week in Europe with the Easter break coming in at the end of the week.
0600 GMT - UK February monthly GDP data
0800 GMT - SNB total sight deposits w.e. 8 April
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.
