Forexlive European FX news wrap: Awaiting the US PPI report ...Middle East

What is the distribution of forecasts for the US PPI?US December NFIB small business optimism index 105.1 vs 101.7 expectedBond yields slightly off the highs but the pressure remainsDollar seeks validation to start European morning tradeECB's Holzmann says hope to hit 2% inflation target by year-endEuropean indices post a rebound at the open todayWhat are the main events for today?PBOC says will continue to take measures maintain stability in yuan exchange rateChina December M2 money supply +7.3% vs +7.3% y/y expectedEurostoxx futures +0.6% in early European tradingBOJ's Himino: The likelihood of economy, prices moving in line with forecast is increasingBOJ's Himino: Hard to say whether risk to inflation is skewed to upside or downsideDip buyers set to be rewarded for their efforts yesterday?Japan former FX diplomat Kanda still playing his part on commenting on the yen

In the markets, the US Dollar is consolidating around the recent highs although it weakened a bit overnight on the tariffs news. The sentiment in the equity markets remains negative and some more bad news on the inflation front might lead to new lows.

Crude oil is trading around the recent highs although the strong momentum waned a bit. We are very close to the $80 level on WTI. Finally, Bitcoin is trading above the NFP level after staging an incredible rebound from the lows.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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