Economic data coming up in the European session

Euro area final services and composite PMI prints for September in focus

The market is looking more cheery to start the new week, with major currencies gaining slight ground as we see the yen and dollar lag a little bit.

All eyes are still on Trump’s health condition and after some nervousness seen on Friday, market participants are feeling more at ease about the situation currently.

But in the context of the US election race, the odds are growing more in favour of Biden and that is also something to keep an eye out for in trading this week.

For today, there isn’t much in the European calendar to distract from the happenings in the US as we’ll get final PMI prints in the euro area, which should just reaffirm that the two-paced recovery in the region is still playing out as of late.

0715 GMT – Spain September services, composite PMI

0745 GMT – Italy September services, composite PMI

0750 GMT – France September final services, composite PMI

0755 GMT – Germany September final services, composite PMI

0800 GMT – Eurozone September final services, composite PMI

Focus is on the final readings in France, Germany and overall Eurozone but the data here shouldn’t tell us much of anything new. The manufacturing sector is seen keeping pace in recent months but the latest resurgence in virus cases have dampened services activity and that should be confirmed by the data later today. If such conditions persist in the coming months, it’ll cast a dark cloud over the pace of the euro area recovery in Q4 and going into next year as well.

0830 GMT – Eurozone October Sentix investor confidence

Prior release can be found here. An indication of investor morale towards economic sentiment in the euro area, adds to general sentiment surrounding the recovery in the region.

0830 GMT – UK September final services, composite PMI

The preliminary report can be found here. Amid a slight pickup in virus cases and UK government stimulus wearing off, the data here should just confirm that the pace of the economic recovery is losing some steam after the initial rebound.

0900 GMT – Eurozone August retail sales data

Prior release can be found here. Consumption activity is expected to have bounced back strongly in August following a more tepid July month. But once again, it remains to be seen if such level of domestic demand can keep up towards the year-end.

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.

This article was originally published by Forexlive.com. Read the original article here.