German inflation in focus on the agenda today | Forexlive

After risk sentiment soured trading yesterday, we are seeing a light pullback today with US futures higher and the dollar slightly on the softer side. It’s not much as market players are caught in a fierce battle after a hectic last one week which is now more or less bookended by remarks from Fed chair Powell.

The S&P 500 fell by 1.1% yesterday but buyers are still keeping the faith closer to 4,100 for the time being. That will be a pivotal line to watch for risk trades as the market mood remains the key driver of trading sentiment at the moment.

Looking ahead, German inflation data will be one to pay attention to in Europe in terms of data before we get to the BOE monetary policy hearing in parliament at roughly 0945 GMT and the latest European Commission economic forecasts at 1000 GMT.

0700 GMT – Germany January preliminary CPI 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.