Good Morning Traders! This Wednesday is packed with PMI's from Europe.
Here is what to expect.
Sentiment
The euro rose against the US dollar as investors await eurozone PMI data to assess the health of the region's economy. The Australian dollar gained ground versus all of its G-10 counterparts.
Country Garden, the troubled Chinese developer that missed interest payments on some dollar notes earlier this month, is keeping investors in the dark about when the grace period ends.
As speculators boost long-term bond yields on hopes that the economy would avoid a recession, they reduce prospects for Federal Reserve rate cuts. The swaps market now has roughly 100 basis points of easing priced in through next year, down from more than 150 a few weeks ago.
Docket
Speakers
There are no speakers on the docket
Good Luck Today Traders!
