The Session Ahead

• French and Canadian Holidays today
• U.S. holiday sees banks and physical bond trading closed. Stocks and futures are open

In the holiday thinned market, we are expecting consolidation in tonight’s session. The market has a lot to digest, including a rising series of inflation data pretty much across the planet, weaker than expected employment in Australia and unconfirmed reports of a giant debt default by one of China’s largest builders.

The E.C.B. economic Bulletin is pretty much the only release of note and should have little major impact on trading.

Markets are finishing Asia with a bid on the USD, as traders unwind recent short positions ahead of tonight’s U.S. holiday. Gold is also consolidating its overnight gains.