The bond market remains the main place to watch at the moment, and with no Treasuries released for today, we will have to wait until tomorrow to get a better idea of the recent moves at the end of last week. The big display on the front end is the main talking point and we will have to see if that continues into this week.
At the moment, the majors are calmer and the overall risk tone is also looking more hesitant. US stocks ended Friday in a more subdued mood as well, with the S&P 500 and Nasdaq down while the Dow Jones was dragged down by banking stocks.
Looking at European trading today, there will be some light data to deal with. However, none of them should have the effect of influencing the ECB’s forecasts at the moment. It’s all about inflation data these days, so everything else is mostly second-rate. This sets us up for a slower start to the new week at least.
0700 GMT – December wholesale price index in Germany
0900 GMT – Total demand deposits with the SNB on January 12
0900 GMT – Eurozone trade balance data for November
1000 GMT – Eurozone industrial production for November
That’s it for the next session. I wish you all the best in the coming days and good luck with your trading! Stay safe out there.