US dollar drifts higher ahead of a light North American calendar

It’s something of a three-day trading week in North America with nothing notable on the economic calendar today or on Friday. That’s contrasted by a busy day tomorrow with US retail sales and Canadian CPI.

The lone item of note today is the BOC senior loan officer survey at 10 am ET and that’s not likely to be a market mover. There are no scheduled central bank speakers.

So today’s trading will be all about China angst and bond yields. At the moment, yields are edging slightly higher and bringing the dollar along for the ride. Commodities have softened in the past half hour. Technically, eyes are on the breakout in USD/JPY: