A couple of light data releases in Europe as dollar stays vulnerable

The dollar remains in a vulnerable spot once again, with USD/JPY eyeing a potential drop below 148.00 and inching back towards a retest of the October low at 147.27. Meanwhile, the antipodeans are off to a strong start this week with AUD/USD and NZD/USD both climbing above their respective 200-day moving averages in sealing a firmer technical breakout.

With the bond market in focus, the dollar could be susceptible to further declines if the rally in bonds continue to keep up. That will be the key theme to watch ahead of month-end trading this week.

For today though, economic data releases won’t help too much in Europe with little in terms of key data. German GfK consumer sentiment and Eurozone broad money growth are among the only notable releases but they aren’t going to be market movers whatsoever.

0700 GMT – Germany December GfK consumer sentiment
0745 GMT – France November consumer confidence
0900 GMT – Eurozone October M3 money supply

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.