Themes

• General mood is “risk off”
• Very quiet session in Asia today amid a lack of fresh incentives
• BoJ Monetary Policy Meeting Minutes shrugged off

What’s Moving

Another quiet session in Asia today amid a lack of fresh local trading incentives saw most of the majors trade “inside days” again. The exceptions to this were GBP/USD, which traded slightly firmer and USD/CAD which traded slightly weaker.

The Japanese Monetary Policy Meeting Minutes had little impact with nothing new added to the equation.

Not much to say really with just a few days to the beginning of the holiday season and with currencies stuck in tight ranges.

Tonight doesn’t look a great deal better, with the data slate seeing only:

• U.K. Current Account (E: -15.8bln)
• U.K. Final GDP (E: 1.3%), and
• U.S. Final GDP (E: 2.1%)

There is little risk that these data sets will come in much different to expectations and players will instead watch for updates on the Covid situation and how the U.S. equity market backs up after strong gains overnight.