Major currencies are sitting little changed with the dollar just slightly on the softer side as we look towards European trading. But given the breakdown in Treasury yields this week, things could’ve been worse for the greenback. That being said, month-end flows might have helped to take some of that pressure off. Now with that out of the way, we could see a resumption in the dollar drop as bond yields remain pressured.
There won’t be much in terms of economic data releases in the session ahead to really impact broader market sentiment. The final manufacturing PMI readings for November in the euro area are due but that shouldn’t tell us anything new about the state of the economy. As such, the market focus will remain on bonds and then broader risk sentiment as equities look to wrap up another week of gains.
0700 GMT – UK November Nationwide house prices
0800 GMT – Switzerland Q3 GDP figures
0815 GMT – Spain November manufacturing PMI
0830 GMT – Switzerland November manufacturing PMI
0845 GMT – Italy November manufacturing PMI
0850 GMT – France November final manufacturing PMI
0855 GMT – Germany November final manufacturing PMI
0900 GMT – Eurozone November final manufacturing PMI
0900 GMT – Italy Q3 final GDP figures
0930 GMT – UK November final manufacturing PMI
That’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.