The bond market selloff cooled while equities had a mixed showing yesterday, with the late bounce in Wall Street was mostly observed by tech stocks. In FX, the dollar continues to reign supreme but changes today are fairly lighter with narrow ranges prevailing for the most part ahead of European trading.The key focus today will be on the US CPI release for April, with ‘peak inflation’ set to be a major talking point for market action.US futures are keeping a little higher for now, with S&P 500 futures up 0.3% and Nasdaq futures up 0.7%. It’s encouraging for risk sentiment in general but at the end of the day, the US CPI release and market reaction after is what will dictate proceedings today.Looking to the session ahead, there isn’t much of relevance to really shake up the mood.0600 GMT – Germany April final CPI figures1100 GMT – US MBA mortgage applications w.e. 6 MayThat’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.
German CPI the only release of note in the session ahead
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