The aussie and kiwi are tilted lower to start the day as risk tones are looking a little heavy, after having seen weaker data come out of China alongside a rate cut to the MLF by the PBOC. Eamonn has a good recap on that here.
US futures are also seen a little softer, down 0.2% on the day but that comes after a blistering rally to end the week on Friday. As for the bond market, there is still plenty of tinkering at the moment.
The dollar is somewhat steady on the day, trailing slightly only against the Japanese yen but the moves are light. The antipodeans are the notable early movers so far with AUD/USD down 0.5% to 0.7088 currently. That said, price action remains confined by its 100 and 200-day moving averages at 0.7077 and 0.7147 respectively:
With a lack of key economic releases, risk sentiment will be a focus point in the session ahead as markets continue to sort things out in the aftermath of the hot US jobs report and slightly softer US consumer inflation data so far this month.
0600 GMT – Germany July wholesale price index
0630 GMT – Switzerland July producer and import prices
0800 GMT – SNB total sight deposits w.e. 12 August
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.