📅 Economic Calendar – 05.11.2025 Markets are set for a busy Wednesday packed with key reports from 🇪🇺 Europe and 🇺🇸 the United States. Investors will watch closely for signs of economic strength or weakness that could steer risk appetite and central bank expectations. 🇪🇺 Europe: Focus on October Services PMI data across Spain, Italy, France, Germany, Sweden and the eurozone, helping assess the region’s economic pulse. Industrial production from Germany and France also offers clues about growth momentum. 🇺🇸 United States: Attention turns to the ADP jobs report and ISM Services Index, key indicators for labour and business activity amid ongoing political uncertainty and the US government shutdown. Volatility may stay high as the earnings season continues with reports from Novo Nordisk, McDonald’s, Qualcomm, Arm and Applovin. 💬 Strong figures could lift risk sentiment, while weaker data may drive demand for safe havens like bonds or the Swiss franc. 📊 Highlights (CET): 08:00 🇩🇪 Germany – Industrial Orders +1.1% 09:15 🇪🇸 Spain – Services PMI 54.6 09:50 🇫🇷 France – Services PMI 47.1 09:55 🇩🇪 Germany – Services PMI 54.5 10:00 🇪🇺 Eurozone – Services PMI 52.6 14:15 🇺🇸 ADP Employment +28K 16:00 🇺🇸 ISM Services Index 50.7 📈 Stay alert — today’s data could move markets across forex, indices, and commodities!