It is still all about the bond market and the rout picked up once again yesterday after the US CPI data, although it was the poor Treasury auction once again that really triggered things. The dollar benefited as a result while stocks dropped and while we are seeing a light retracement of that today, just be wary that the bond selling only tends to hit hard in US trading.
So, that will be something to watch out for later today. In the meantime, there will be a couple of light data releases in Europe to move things along. But otherwise, broader markets will likely just be hoping for some relief at least for the time being.
We'll have French and Spanish final consumer price inflation reports but as they are the final estimates, it isn't anything new to add to the outlook before the weekend.
0630 GMT - Switzerland September producer and import prices
0645 GMT - France September final CPI figures
0700 GMT - Spain September final CPI figures
0900 GMT - Eurozone August industrial production
That's all for the session ahead. I wish you all the best of days ahead and good luck with your trading! Stay safe out there.
