In the European session, we don't have anything on the agenda other than a couple of low tier releases like the French budget balance and the Spanish unemployment change. The data won't change anything for the ECB or the market.
In the American session, it's going to be much of the same as we just get the US redbook data, which is never a market-moving release. So, the markets will continue to trade based on the latest hawkish turn from Fed Chair Powell which weighed on stocks, strengthened the dollar and lifted Treasury yields.
Personally, I would have expected a bit of a pullback or some consolidation in this hawkish repricing after yesterday's ISM report. Tomorrow, we have the ADP report, which is the most important jobs data we have without government data.
Central bank speakers:
- 07:40 GMT/02:40 ET - ECB President Lagarde (neutral - voter)
- 07:55 GMT/02:55 ET - ECB's Patsalides (neutral - voter)
- 09:00 GMT/04:00 ET - ECB's Escriva (neutral - voter)
- 10:00 GMT/05:00 ET - ECB President Lagarde (neutral - voter)
- 11:35 GMT/06:35 ET - Fed's Bowman (dove - voter)
- 11:40 GMT/06:40 ET - BoE's Breeden (neutral - voter)
- 17:00 GMT/12:00 ET - ECB's Nagel (neutral - voter)
