August 12, 2024 at 06:01AM
A Japanese market holiday isn’t making it too exciting to start the new week. Overall market action is much calmer, though USD/JPY is creeping a little higher to 147.15 currently. Still, the pair is “only” sitting in a 50 pips range so it pales in comparison to the swings from last week.
Besides that, other major currencies are not doing much with the risk mood holding steadier. S&P 500 futures are flat while Nasdaq futures are up 0.1%. In terms of the economic calendar, there won’t be much to shake things up today. As such, traders will have to look to themselves again to get past the early stages of the new week.
In Europe, German wholesale prices is the only release of note but even then it isn’t a major one. All eyes this week will be fixated on the US inflation report on Wednesday instead. Here is what else is on the economic calendar in the days ahead.
0600 GMT – Germany July wholesale price index0800 GMT – SNB total sight deposits w.e. 9 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.
This article was written by Justin Low at www.forexlive.com.
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