We got a teaser on what we can expect from US data in trading yesterday. The ISM manufacturing report came in softer in May, and that led to the dollar falling alongside yields. As a result, the greenback is facing some key technical pressure now with plenty to still look forward to in the week.
So far today, the overall mood is calmer with equities also showing little poise. 10-year Treasury yields have largely erased the bounce in the second half of May, now keeping at 4.41% today. It was as high as 4.63% just last week.
Looking to the session ahead, there’s not much to shake things up. Swiss CPI figures for May will be one to watch to see if the SNB will stick to their conviction to cut rates further. Besides that, it might be a bit of a wait until US trading again with eyes on the JOLTS job opening numbers.
0630 GMT – Switzerland May CPI figures
0755 GMT – Germany May unemployment change, rate
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.
