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A couple of light releases to move things along in the European session

Started by forex4you, Apr 20, 2022, 01:11 pm

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A couple of light releases to move things along in the European session

The dollar is keeping slightly weaker after USD/JPY hit a bit of an air pocket above the 129.00 level in Asia Pacific trading.It isn't indicative of much when weighed against the moves in the past couple of days but we are seeing EUR/USD stick around 1.0800 and GBP/USD also hold on at support around 1.3000, so those remain notable levels to watch.The bond rout continues to advance with Treasury yields jumping once again. 2-year yields are up 2.3 bps to 2.598% while 10-year yields are up 2.7 bps to 2.942%. There isn't much change to the inflation and central bank narrative in the past week or so, as such we are seeing the moves stick for a bit longer.In the equities space, US stocks fared better yesterday but the overall mood remains rather choppy. S&P 500 futures are down 0.4% on the day after the cash market posted a solid 1.6% gain yesterday. There's still a push and pull narrative when it comes to rate hikes, inflation and the global economic outlook so there's that to balance out.Looking ahead, we won't get much firm answers on key market developments today so expect the usual drivers to play a role in dictating trading sentiment. If anything else, dip buys in yen pairs may be the thing to watch as bond yields continue to push higher.0600 GMT - Germany March PPI figures0900 GMT - Eurozone February trade balance data0900 GMT - Eurozone February industrial production1100 GMT - US MBA mortgage applications w.e. 15 AprilThat'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.

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