Swiss inflation the highlight of the agenda in Europe today

<p>In the big picture this week, the focus now is all about the market mood after last week's action. We saw traders retrace back the moves from November and December, with the dollar gaining a solid edge as yields pushed higher while equities stumbled. Will that continue this week? And more importantly, how will the landscape change after the US CPI data on Thursday?</p><p>Only time will tell. But for today, we're off to a steadier start ahead of European morning trade. The dollar is lightly changed with USD/JPY in particular held back at the end of last week, keeping below the 145 mark. That is keeping a lid on things as we get into the new week now, awaiting further clues.</p><p>Looking to the session ahead, Swiss CPI is on the agenda and will offer something for traders to scrutinise on the SNB. But with consumer prices holding below 2%, the Swiss central bank should be in a comfortable spot to keep arguing for a pause at the moment.</p><p>Besides that, we'll have some German data for November and also the Sentix investor confidence index to get through. All of that shouldn't offer too much for the euro and broader markets though, as it should just reaffirm a softer outlook in the euro area for now.</p><p>0700 GMT – Germany November industrial orders0700 GMT – Germany November trade balance data0730 GMT – Switzerland December CPI figures0900 GMT – SNB total sight deposits w.e. 5 January0930 GMT – Eurozone January Sentix investor confidence1000 GMT – Eurozone November retail sales</p><p>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.</p>

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