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Dovish comments from Centeno


(H3) Pierces The Bull Trigger


UK Timeline of Key Events (Times GMT)


Short-Term Trendline Resistance Remains Exposed


Eurozone Timeline of Key Events (Times GMT)


(M3) Trend Direction Remains Down

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Weak PMIs See Limited Reaction, With Events Eyed Elsewhere


Only limited market reaction to this morning's underwhelming October flash PMIs - core EGB yields were left basically unchanged in their wake, with EUR movement vs USD limited to about 10 pips. Perhaps there is more attention on events elsewhere (UK politics) and upcoming (ECB decision Thursday).

  • To recap: France missed expectations on Services/Composite, but beat on Manufacturing; Germany in-line on Services but missed on Manufacturing and Composite.
  • Eurozone PMIs out at 0900UK, UK at 0930UK.
  • Coming into the session, Eurozone Oct Manufacturing was seen 47.9 with Services at 48.2 - though current expectations may be dialled back slightly by the French and German numbers.

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