Awaited US CPI data to dominate market focus in the session ahead

<p>It's all looking rather tentative again today as markets are awaiting the much anticipated US CPI data later today. The mood in FX is rather muted while US futures and bond yields are little changed as we head towards European trading. I doubt we'll get much action in the session ahead, so brace yourselves for a bit of a slow one once more.</p><p>That being said, there will be some notable economic data releases on the agenda at least. UK labour market data, albeit with some caveats as warned before <a href="https://www.forexlive.com/news/heads-up-uk-labour-market-data-later-this-month-will-have-a-similar-caveat-to-october-20231102/" target="_blank" rel="follow">here</a>, will feature alongside Germany's ZEW economic sentiment survey. There will also be the final October reading for Spanish inflation and the second estimate for Eurozone Q3 GDP.</p><p>In any case, none of the above should be material market movers as traders and investors are going to be fixated on the inflation numbers from the US instead.</p><p>0700 GMT – UK October payrolls change0700 GMT – UK September ILO unemployment rate0700 GMT – UK September average weekly earnings0730 GMT – Switzerland October producer and import prices0800 GMT – Spain October final CPI figures1000 GMT – Germany November ZEW survey current conditions, outlook1000 GMT – Eurozone Q3 GDP second estimate1100 GMT – US October NFIB small business optimism index</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.