The market is not interested in committing to anything until we get to Powell and Biden’s speeches later today
The DAX is up 0.2% as European indices in general are posting slight gains but overall keeping little changed. Meanwhile, S&P 500 futures are up 0.1%, Nasdaq futures are down 0.4%, and Dow futures are up 0.3%

GBP/USD keeps a more bullish near-term bias but gains remain limited by the 1.3700 handle in trading this week
The push higher stalled at the key level before retreating back towards the swing region around 1.3620-30 as buyers continue to keep a more bullish near-term bias in the pair.

Comments by French finance minister, Bruno Le Maire
The question about spending is pretty much an eternal tale as this point. A way to look at spending is that it is a reflection of tax timings. So, as much as governments are obligated to talk about who is going to pay for all of this and

Latest data from the Mortgage Bankers Association for the week ending 8 January 2021
– +1.7%
– Market index 965.2 vs 827.2 prior
– Refinancing index 4,706.3 vs 3,917.6 prior

AUD/USD falls back to test its key hourly moving averages
The dollar is keeping firmer on the session as we see the push and pull in the market this week continue to play out. Following the move lower yesterday, the greenback is returning back to favour amid the tepid mood in the market today.

Comments by UK vaccine deployment minister, Nadhim Zahawi
That would be an encouraging start to the rollout plan but we’ll see if things will continue to progress smoothly in the coming months so as to allow for a better economic reopening in the spring and especially in the summer season.

Dollar gains slightly in European morning trade
European indices are reflecting a mixed picture with S&P 500 futures now down 0.1% but is keeping little change throughout. Meanwhile, 10-year Treasury yields are off earlier lows of 1.105% to 1.122% currently – closer to flat levels on the day.

Comments by Japanese prime minister, Yoshihide Suga
added
While not lawfully binding, the measures are still likely to be abided for the most part and the call for tighter restrictions will chip away at the Japanese economy to start the year.

DAX turns flat as European equities give up opening gains
Elsewhere, US futures are still holding on to slight gains with S&P 500 futures up 0.2% while Nasdaq futures are up 0.3%. Meanwhile, 10-year Treasury yields are nudging a little higher again as it is up 1.2 bps to 1.158% currently.

Latest data released by NFIB – 12 January 2021