Euro in focus ahead of the highly likely ECB rate cut. Euro positioning has improved in recent weeks and softer US data could improve the outlook for the single currency

The latest ISM Report missed forecasts, and last month’s reading, as manufacturing activity in the US contracted for the 18th time in the last 19 months.

Cable is struggling to move higher despite positive UK manufacturing data. The dollar remains better bid and this is driving GBP/USD lower.

Oil attempts to find support after OPEC+ extended output cuts into 2025. Oil prices attempt to make a recovery after multiple days of losses