Good Morning Traders! This Wednesday we get Euro area PMI as well as comments from ECB's Lagarde.

Here is what to keep in mind.


By refusing to clarify whether Tokyo intervened in markets to support the yen amid rumours of another round of intervention on Wednesday, Japan's top financial officials kept investors wondering.

Following a selloff in the global debt market and amid rumours that the central bank could change monetary policy, yields on Japan's five-year government notes increased to their highest level since 2013.

A spike in sovereign long-term yield was created by the central bank's negative interest rate, which is why Japan's 10-year overnight-indexed swaps increased to 1% for the first time since January.

After hardliners in his own party erupted over his deal with Democrats to avert a government shutdown last weekend, Kevin McCarthy lost his leadership position. He declared that he won't run for speaker again and that he hasn't given consideration to leaving Congress.

Ahead of an OPEC+ assessment of the global petroleum market and a weekly update on US stocks, the price of oil held steady.

Bond market participants are planning for higher Treasury rates over the coming weeks, anticipating that the 10-year rate will surpass 5% and possibly reach considerably higher levels.


03:50 AM ET
French Services PMI
Medfian Forecast 43.9 | Prior 43.9 | Range 44.1/43.9

03:55 AM ET
German Services PMI
Medfian Forecast 49.8 | Prior 49.8 | Range 49.8/49.8

German Composite PMI
Medfian Forecast 46.2 | Prior 46.2 | Range 46.2/46.2

04:00 AM ET
Eurozone Services PMI
Medfian Forecast 48.4 | Prior 48.4 | Range 48.4/48.4

Eurozone Composite PMI
Medfian Forecast 47.1 | Prior 47.1 | Range 47.1/47.1

04:30 AM ET
UK Services PMI
Medfian Forecast 47.2 | Prior 47.2 | Range 47.9/47.2

UK Composite PMI
Medfian Forecast 46.8 | Prior 46.8 | Range 46.8/46.8


04:00 AM ET
ECB's Lagarde Speaks

07:40 AM ET
ECB's de Guindos Speaks


Good Luck Today Traders!