UK monthly GDP on the agenda in the session ahead

After some pushing and pulling in US trading, the dollar is more or less back where it was before all the action. USD/JPY is one that is noticeably lower though, keeping at around 148.60 levels now. The roughly 40 pips range so far today is one of the smallest in recent weeks. And that speaks to trading sentiment on the day currently.

Besides that, USD/CAD is also one that pushed higher again yesterday. The dollar is looking for eight consecutive daily gains now against the loonie, so that is one to keep an eye out for as well. That especially with oil prices staying more volatile amid the whole drama in the Middle East.

Looking to European trading though, there isn’t much to add to the intrigue in markets this week. The economic calendar is light and that puts the spotlight on US trading once again later.

The key risk event on the agenda will be the UK monthly GDP data for August. But it should just reaffirm steadier economic developments in the UK in Q3, providing breathing room for the BOE to pause on rates if needed.

As such, we might be in for a slower session before Wall Street comes in later.

0600 GMT – Germany September final CPI figures0600 GMT – UK August monthly GDP figures

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.

This article was written by Justin Low at www.forexlive.com.