Once again, it’s been a rather dull session so far in European morning trade. Major currencies are not doing a whole lot, having little to work with in general this week. The dollar is steady on the day, trading near flat levels against the euro, yen, pound and loonie currently. Of note, USD/JPY continues to do a tango in and around the 150.00 mark this week:

The lack of developments in the bond market isn’t helping with that regard as well. 10-year Treasury yields are down 1.5 bps to 4.26% now but remains pinned in between 4.20% and its 100-day moving average of 4.33% in the bigger picture.

For trading today, the focus turns towards the FOMC meeting minutes release next. That might help to offer something for traders to act upon and to get out of this rut.

Besides that, keep a watchful eye on stocks as there are some jitters persisting since yesterday. Nvidia earnings is in the spotlight and that will come after the market close today. US futures are down again though, with S&P 500 futures lower by 0.2% and Nasdaq futures down by 0.4% currently.

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