A couple of data releases to move things along in the session ahead

The dollar is holding firmer on the week as higher bond yields are reverberating across broader markets. Of note, EUR/USD is inching back under 1.0800 now with traders pushing past its 100-day moving average of 1.0808. But the 200-day moving average is nearby, seen at 1.0786. That alongside some large option expiries near the figure level could help to hold price action intact – at least for now.

Elsewhere, equities are continuing to observe a more sour end to the month. S&P 500 futures are down another 0.5% currently. And in commodities space, gold is back down to $2,334 with last week’s lows at $2,325-27 in focus.

Looking to the session ahead, there won’t be much to distract from the flows in the bond market and the overall risk mood. There will be a couple of releases to move things along in Europe, but none of which will have much impact.

Spanish inflation is on the data docket but it has been hovering just above 3% in recent months. The latest reading is estimated at 3.7%, which once again reaffirms that it will be a tough job to sustainably get price pressures back to 2% from hereon. But for now at least, it won’t do anything to change the ECB decision next week.

0600 GMT – Switzerland April trade balance data0700 GMT – Spain May preliminary CPI figures0700 GMT – Switzerland Q1 GDP figures0900 GMT – Eurozone May final consumer confidence0900 GMT – Eurozone May economic, industrial, services 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.

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