PMIs back on the menu in European trading today

<p>The Israel-Hamas conflict is still a considerable factor in markets but so is the retracement in the bond market, after having seen 10-year yields in the US tag the 5% level before backing off. Yields are now trading little changed at 4.84% and that is seeing the dollar cool off with USD/JPY itself down to 149.63 currently.</p><p>In the bigger picture though, the dollar might see scope for a nudge back lower if yields are to also retrace further amid a delay in retesting the 5% mark again. This EUR/USD chart <a href="https://www.forexlive.com/news/dollar-pinned-after-10-year-treasury-yields-back-away-from-5-level-20231024/" target="_blank" rel="follow">here</a> might be one to watch for broader sentiment in the dollar this week.</p><p>The euro itself will be a focus point in the session ahead as we will get fresh PMI data for October. The signs point to some stabilisation in activity, albeit still knee deep in contraction territory. If meeting expectations, it points to a continued slowdown to start Q4 but at least conditions are not worsening significantly.</p><p>0600 GMT – Germany November GfK consumer sentiment0600 GMT – UK August employment change, ILO unemployment rate0715 GMT – France October flash manufacturing, services, composite PMI0730 GMT – Germany October flash manufacturing, services, composite PMI0800 GMT – Eurozone October flash manufacturing, services, composite PMI0830 GMT – UK October flash manufacturing, services, composite PMI1000 GMT – UK October CBI trends total orders</p><p>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.</p>

This article was written by Justin Low at www.forexlive.com.