A quiet agenda in European trading today

Given the near empty calendar day in Europe, it should set up for a quieter session. Broader markets are likely to keep consolidating following yesterday’s moves, as we await the US CPI data on Thursday.

The bond market remains a key area of focus. 10-year Treasury yields are still holding above 4% but still keeping below the 200-day moving average of 4.046% for now. So, that’s not leaving much room to work with for the time being. As such, the dollar is consolidating gains as noted here.

Tomorrow can’t come soon enough. That’s likely going to be the look and feel for trading today, barring any surprise headlines.

1200 GMT – US MBA mortgage applications w.e. 5 January

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.