Not much on the economic calendar today in the European trading session


SNB sight deposits data the only notable release

Good day, everyone! Markets are still very much in holiday mood so expect liquidity conditions to still remain thin as traders around the world are looking forward to New Year’s celebrations at this point. Japanese and German banks are off today, so that will further dampen liquidity before the North American session kicks in.

0900 GMT – SNB total sight deposits w.e. 28 December

Your weekly check of the deposits kept at the SNB by Swiss banks. This data is a proxy for FX interventions.

As for data releases, that’s about it on the day so expect a more quiet time in terms of headlines as well. For the time being, risk is holding up decently following Trump’s upbeat remarks on trade over the weekend. The aussie is mildly higher while the yen is a little weak to start the day. Equities sentiment is also holding up decently in Asia and E-minis are trading 0.7% higher currently.

Today and tomorrow should see more quiet and thin trading so just be aware that market moves during these times can be exacerbated by the lack of liquidity. I wish you all the best of days ahead and to those already off celebrating, a happy new year’s eve and a very happy new year!

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