German Ifo business survey the highlight of the agenda today
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The longer weekend is making for a more subdued start to proceedings so far today. Major currencies are not up to much, with dollar pairs keeping in narrow ranges and little changed overall.
USD/JPY is down slightly after brushing up against the 157.00 mark at the end of last week. But besides that, there is very little to scrutinise about the movements thus far.
Looking to European morning trade, there won’t be much to shake things up either. We have the German Ifo business survey for May coming up. But that is likely to just reaffirm steadier conditions in the German economy for Q2, which will be an added comfort for the ECB after the better showing in Q1.
As such, expect trading sentiment to stay more muted barring any headline surprises.
0800 GMT – Germany May Ifo business climate index
0800 GMT – SNB total sight deposits w.e. 24 May
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.