Chinese trade data for December were strong, and the CNY Fixing and Tom/Next calmed down as well. All is good with the world and it seems like “risk-on” sentiment is returning to the markets.
I don’t like the idea of playing risk-on via FX today, and instead am looking at the Dax for some longs above this week’s high/monday’s high. My bias is still short on Gbp & Cad vs. Jpy and Usd but today, with a flip in risk-appetite, it may be best to sit still.
Looking forward, there’s not much data on tap today at all since Euro Area Industrial Production will most likely take the back seat ahead of tomorrow’s ECB minutes. Instead, we have central banker speakers: ECB’s Lautenschlaeger, FED’s Rosengren (voter) and Evans (non-voter).