Dollar holds steady ahead of European markets open

The greenback is little changed to start the new day


And the same can be said for most major currencies as we look to begin the session. Trading ranges remain tight for the most part but the yen is notably weaker amid better risk sentiment among equities but as mentioned earlier, that only puts USD/JPY more or less back to where it was during European trading yesterday.

The aussie and kiwi are a little weaker with the former dragged down slightly by poor business confidence data. Nonetheless, both AUD/USD and NZD/USD are only sitting in 18 pips ranges so that’s not a whole lot of movement thus far.

Looking ahead, there isn’t much on the economic calendar to really shake things up so let’s see where markets pick up from after a bit of indecision towards the end of yesterday’s trading day. The two key themes remain that of risk sentiment (global trade tensions) and chatter about the Fed cutting rates – which we will get more of an idea in the coming days from CPI data tomorrow and retail sales data on Friday.

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