Reminder: It is a long weekend in the US
Read full post at forexlive.com
US markets will be closed in observance of Martin Luther King Day
The lack of any “guidance” by US traders and Wall Street means that the market will have little else to work with besides the clues that we got towards the end of trading last week.
European equities are keeping more tepid in general and trading little changed, with S&P 500 futures seen down 0.1% so far on the session. Meanwhile, the dollar continues to keep with the momentum from last week and is posting a modest advance today.
Of note, commodity currencies are trailing with AUD/USD testing two-week lows around 0.7660 while NZD/USD is down to its lowest level since the end of December near 0.7100.
EUR/USD is also slightly softer as it runs into some key support around 1.2059-64:
With US traders out today, there might not be much of anything new to work with besides the prevailing theme(s) unless we get some surprise headlines in the session ahead.
The coming days does promise to be more interesting with central banks back in focus (BOC, BOJ, ECB) as well as US president-elect Joe Biden’s inauguration.