FX muted awaiting more US data later in the day

Considering how much emphasis markets have been placing on big data in recent months, this isn’t much of a surprise. Major currencies are relatively muted in trading today with dollar pairs seeing light changes overall. USD/JPY did nudge a little higher to near 148.00 but is still finding it tough to get past the figure level. The pair is now flat, similar to most other dollar pairs on the day:

After a strong showing yesterday, gold is down slightly to just under $2,170. But in the commodities space, keep an eye out on copper as it looks like it has finally broken out in trading this week.

Meanwhile, equities are slightly higher with US futures also keeping some slight optimism after the retreat yesterday. As for bonds, things are also fairly muted so far on the session.

All eyes are now on more US data to follow as we will have retail sales, PPI, and the weekly jobless claims to work through.

This article was written by Justin Low at www.forexlive.com.