BOE the main event on the agenda in the session ahead

<p>Both the dollar and Treasury sellers look like they're in to be squeezed right now, after a turn in the bond market yesterday. 10-year yields tumbled by nearly 20 bps after Yellen's hub announced a wave of supply that is less fearful for traders. The greenback dropped as a result and this is keeping things rather interesting ahead of the US jobs report tomorrow. I shared some thoughts <a href="https://www.forexlive.com/news/is-the-bond-market-rout-finally-over-20231102/" target="_blank" rel="follow">here</a>.</p><p>In other markets, equities look to benefit as the Nasdaq secures a recovery back above its 200-day moving average while the S&amp;P 500 is nearing a test of that same level now.</p><p>As for the dollar, it is in a bit of a bind as USD/JPY drops back to 150.40 after a breakout above the figure level yesterday. EUR/USD continues to chop but is sitting near 1.0600 for now while AUD/USD is looking to come up for air as it trades to its highest in three weeks at 0.6424 currently.</p><p>It's all about the bond market again and that will put a lot of emphasis on the non-farm payrolls data tomorrow. For today, the BOE is in focus but it should be a dull one as Bailey &amp; co. are likely to reinforce their hold position as inflation has been trending a little softer in the UK as of late.</p><p>0730 GMT – Switzerland October CPI figures0815 GMT – Spain October manufacturing PMI0845 GMT – Italy October manufacturing PMI0850 GMT – France October final manufacturing PMI0855 GMT – Germany October final manufacturing PMI0855 GMT – Germany October unemployment change, rate0900 GMT – Eurozone October final manufacturing PMI1130 GMT – US October Challenger layoffs, job cuts1200 GMT – BOE announces its November monetary policy decision</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.