What are the main events for today?

Markets will focus on “Flash” PMI releases today, with the Eurozone, UK and US all providing early signals on growth. In the European session, traders will watch Flash PMIs for major Eurozone economies and the UK. With growth concerns already present, weaker-than-expected readings could reinforce fears that tighter financial conditions and high energy prices are weighing on the economy, potentially leading to a more “dovish” repricing further out on the rate curve. The article notes markets are pricing 71 bps of ECB tightening by end-2027 and 112 bps for the BoE. In the US session, attention shifts to US Flash PMIs, while Canadian retail sales and final UMich sentiment are expected to have less impact; better data could trigger relief rallies but not change the broader bearish drivers.