Following significant intraday price fluctuations due to the US jobs data and service ISM figures before the weekend, the dollar is currently consolidating within mostly narrow ranges.

Meanwhile, Chinese stocks trading in Hong Kong or the mainland continue to face selling pressure. Europe's Stoxx 600 is trading approximately a quarter-percent lower to kick off the week. The temporary grounding of Boeing's Max 9 (171 aircraft, mainly in the US) is impacting the company's shares and acting as a drag on index futures today, following slight gains before the weekend.

Gold is experiencing heavy trading and is just holding above the pre-weekend low.
February WTI is trading below its pre-weekend low.

Asia Pacific
Japanese markets were closed today, but tomorrow, Tokyo will report December CPI. Small declines in the headline and core rates are anticipated.

The dollar approached the (50%) retracement of the sell-off from last November's high after the US jobs data on Friday, reaching near JPY146.00. Overcoming this area is crucial to maintaining the strong upside momentum seen for most of last week, with the next target being the JPY147.50-JPY148 range.
The Aussie approached initial resistance ($0.6645) and peaked in the local session near $0.6735, testing support near $0.6680 in the European morning.

Europe
News of a 0.3% decline in eurozone retail sales in November reinforces the notion that the economy lacks traction and likely contracted in Q4 23 (-0.1%) for the second consecutive quarter. However, October's 0.1% gain was revised to 0.4%, and the EC's sentiment surveys showed a slight uptick.
On a separate note, disappointing German November factory orders kept pressure on the euro.

The euro is trading within a narrow range of about a quarter-cent above $1.0925 today. It rallied about 6.5 cents in Q4 23, and there is a risk that the downside correction is not over.
Sterling is trading quietly within a little less than a third-of-a-cent range on both sides of $1.2700.

America
If last week focused on the US labor market, this week's attention shifts to prices. Ahead of the CPI and PPI later this week, today features the NY Fed's inflation expectation survey. In November, it stood at 3.4%, down from 3.6% in October and 5% in December 2022.

The greenback is performing well and recorded the session high so far near $1.3395 in the European morning.