Major currencies are fairly subdued as we look towards European morning trade later, following the hot and heavy action after the US non-farm payrolls on Friday. Most dollar pairs are little changed with only AUD/USD seen up 0.3% to 0.6470 currently. I don't see much reason for that slight extension higher besides maybe another surge in iron ore prices.
Besides that, EUR/USD is keeping within a 15 pips range but is near the top side of that at 1.0788 currently. But with USD/JPY even in a 22 pips range, it speaks to the lack of appetite to start the new week and as we get into the session ahead.
As mentioned earlier, with US traders out for the day and the bond market closed, there might not be much to really work with today after the events on Friday. As such, there will be some light data to move things along later in Europe but it will mostly be a waiting game until we start to get a feel of things again tomorrow.
0600 GMT - Germany July trade balance data
0700 GMT - Switzerland Q2 GDP figures
0800 GMT - SNB total sight deposits w.e. 1 September
0830 GMT - Germany September Sentix investor confidence
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.
