Economic data coming up in the European session

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UK Brexit response arguably the key thing to watch today

The dollar gained some solid ground in trading yesterday amid a flurry of risk aversion in the market, though we did see some of the fears unwinding towards the end of US trading as stocks moved off lows alongside Treasury yields.

But the dollar held gains throughout and looks in a better spot from a technical perspective once again as we get towards the end of the week.

US futures are looking more tepid again today, keeping near flat levels after failing to hang on to slight early gains. The yen is keeping a little firmer so far on the day with USD/JPY moving back below its 100-hour moving average @ 105.37.

There are hints of caution as such but elsewhere, there is little movement among other major currencies as market participants continue to digest the range of issues plaguing the market at the moment.

US election and stimulus talks, and Brexit are among the key issues and the latter will be of keen focus today with Boris Johnson set to offer a reply to the EU on whether the UK will continue with negotiations beyond this week.

Looking ahead, data releases will be of little importance once again though we will get Eurozone final CPI figures for September but that should largely just reaffirm more subdued inflation pressures going into Q4.

0900 GMT – Eurozone August trade balance data

Prior release can be found here. The data should reaffirm some improvement in trade conditions but things should still be some way off pre-virus levels for the most part.

0900 GMT – Eurozone September final CPI figures

The preliminary release can be found here. As this is the final release, it shouldn’t tell us much of anything new i.e. inflation pressures heavily subdued with core inflation at a record low at the end of Q3 – barring any major revisions to initial estimates that is.

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 originally published by Forexlive.com. Read the original article here.