As it's usually the case for Mondays, we have a pretty empty calendar today. The only highlight is the Swiss CPI report which is expected at 0.1% Y/Y. The data won't matter much though as the SNB is not going to cut (unless we get big deviations for a few months) and it's definitely not going to hike. We will also get the Swiss Manufacturing PMI which rebounded to the highest level in two years last month, but might pull back in the next releases due to the recent higher US tariffs. Other than that, we don't have anything else market-moving (unless we get some unscheduled event). This week the focus will be on Fedspeak, the US ISM Services PMI and the US Jobless Claims data. This article was written by Giuseppe Dellamotta at investinglive.com.