A quiet agenda in European trading today

<p>Given the near empty calendar day in Europe, it should set up for a quieter session. Broader markets are likely to keep consolidating following yesterday's moves, as we await the US CPI data on Thursday.</p><p>The bond market remains a key area of focus. 10-year Treasury yields are still holding above 4% but still keeping below the 200-day moving average of 4.046% for now. So, that's not leaving much room to work with for the time being. As such, the dollar is consolidating gains as noted <a href="https://www.forexlive.com/news/dollar-consolidates-recent-gains-bitcoin-fiasco-ahead-of-imminent-etf-approval-20240110/" target="_blank" rel="follow">here</a>.</p><p>Tomorrow can't come soon enough. That's likely going to be the look and feel for trading today, barring any surprise headlines.</p><p>1200 GMT – US MBA mortgage applications w.e. 5 January</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.