This feels more like a proper start to the new year, so welcome back everyone. The dollar is still in a good place, mostly holding on to gains from the start of the year. EUR/USD is hovering near 1.0300 while USD/JPY is racing higher to target 158.00 today. Elsewhere, USD/CNY is also rising to its highest level since the later stages of the 2023 Cha-Ching. 💲💲

Looking ahead to the upcoming session, it won’t be too much to shake the mood of the market. We will get final PMI releases from the Eurozone and the UK before we get to the German inflation report for December. State data is usually released the same day before the national release, but according to the schedule I see, it will be released on January 9th instead.

0815 GMT – Spain December Services Composite PMI
0845 GMT – Italy December Services, Composite PMI
08:50 GMT – France Final services in December, composite PMI
0855 GMT – Germany Final services in December, Composite PMI
09:00 GMT – Eurozone Final services in December, composite PMI
09:00 GMT – SNB total demand deposits are on January 3
09:30 GMT – Eurozone January Sentix investor confidence
09:30 GMT – UK final services in December, composite PMI
13:00 GMT – Germany Preliminary CPI data for December

That’s all for the upcoming session. I wish you all the best in the days to come and happy trading! Stay safe out there.