Investors are starting to speculate that the Bank of England (BoE) might cut interest rates sooner than expected. It is anticipated that BoE's first rate cut could happen as early as June 2024. BoE is scheduled to release its monthly Financial Stability Report this Wednesday.

The US labor market data, measured by the Job Openings and Labor Turnover Survey (JOLTS), was worse than anticipated. It decreased significantly by 617,000 positions to 8.733 million vacancies in October. This figure marks the lowest level since March 2021.

The US Services PMI for November increased to 52.7 from 51.8 in the previous announcement. Investors are closely monitoring private sector hiring and non-farm payrolls, which are key factors influencing the Federal Reserve's decision on interest rate adjustments. Investors expect the Fed to maintain the current interest rates at the upcoming meeting in December next week.