| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:50 | France | Services PMI | September | 46 | 43.9 | 44.4 |
| 07:55 | Germany | Services PMI | September | 47.3 | 49.8 | 50.3 |
| 08:00 | Eurozone | Services PMI | September | 47.9 | 48.4 | 48.7 |
| 08:15 | Eurozone | ECB President Lagarde Speaks | | | | |
| 08:30 | United Kingdom | Purchasing Manager Index Services | September | 49.5 | 47.2 | 49.3 |
| 09:00 | Eurozone | Producer Price Index, MoM | August | -0.5% | 0.6% | 0.6% |
| 09:00 | Eurozone | Producer Price Index (YoY) | August | -7.6% | -11.6% | -11.5% |
| 09:00 | Eurozone | Retail Sales (MoM) | August | -0.1% | -0.3% | -1.2% |
| 09:00 | Eurozone | Retail Sales (YoY) | August | -1% | -1.2% | -2.1% |
USD declined against other major currencies in the European session on Wednesday as bond sell-off cooled somewhat.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, fell 0.25% to 106.73.
The indicator hit 107.24 earlier today, its highest level since November 2022, against the backdrop of intensified sell-off in bonds, which lifted the benchmark 10-year Treasury yield to 4.88%, its highest since mid-2007.
The latest wave of bond sell-off reflected markets’ response to a sharper-than-expected increase in the U.S. August job openings and hawkish remarks from the Federal Reserve’s policymakers, which bolstered bets for additional hike in the U.S. interest rates.
According to the CME FedWatch Tool, markets see a 28.7% probability of a November rate increase and a 43.6% likelihood of a hike in December.
Later in the day, investors will receive the ADP jobs report and ISM services PMI for September, which could prompt markets to revise their rate expectations.