ECB the key highlight on the European calendar today
The dollar is continuing to keep slightly on the weaker side after yesterday’s retreat, with the drag in Treasury yields amid the ‘peak inflation’ narrative weighing on the greenback.
EUR/USD is trading back up to 1.0900 but the ECB will be in focus today, so that is a risk factor for the euro even if the central bank isn’t expected to pull out many surprises – if at all.
USD/JPY is also dragged back down below 126.00, though buyers are holding on to the push above the 125.00 level for now.
As yields retreated, equities snapped a short losing streak with US futures also pointing a little higher on the day. US retail sales will be a key risk event to watch later on but not before we get the ECB.
0630 GMT – Switzerland March producer and import prices
1145 GMT – ECB announces its April monetary policy decision
1230 GMT – ECB president Lagarde press conference
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.
