What are the main events to look out for today?

Today there’s no real market moving event on the agenda as we just get some lower tier economic releases. The highlights will be the German inflation figures, the US 7-year Note auction and the Fed’s Beige Book.

The 7-year auction late in the day might weigh on the markets if it goes as bad as yesterday’s ugly auctions which increased the pressure on the bond market and accelerated the rise in Treasury yields.

We will also hear from Fed’s Williams (neutral – voter) at 17:45 GMT/13:45 ET but it’s unlikely that he will add anything new to the current Fed’s “wait and see” stance.

This article was written by Giuseppe Dellamotta at www.forexlive.com.