In the European session, the main highlight was the UK employment report. The data missed expectations across the board and weighed a bit on the pound, although it might not be sustained as the BoE is focused on inflation data and the Autumn Budget. Nonetheless, we should see the December cut probabilities increase a touch.
Looking ahead, we have just the German ZEW report on the agenda which is unlikely to be market-moving given that it won't change anything for the ECB.
In the American session, we don't have much other than a couple of low-tier releases like the US NFIB and the US Redbook data. As a reminder, it's a federal holiday today in the US (Veterans Day) with the stock market open and the bond market closed.
Central bank speakers:
- 08:30 GMT/03:30 ET - ECB's Vujcic (neutral - voter)
- 08:30 GMT/03:30 ET - BoE's Greene (hawkish - voter)
- 13:00 GMT/08:00 ET - ECB's Kocher (neutral - voter)
- 16:45 GMT/11:45 ET - ECB's Escriva (neutral - voter)
