Economic calendar: Services PMI and ADP data in focus!

• Futures point to lower opening of today's cash session in Europe
• Speaker of the House of Representatives, Kevin McCarthy, has been removed from office
• Investors' attention turns to services PMI data and ADP data from the US

Futures point to a lower opening for today's cash session in Europe, a direct extension of the declines recorded during yesterday's session on Wall Street. The declines here are in large part due to the situation in the debt securities market, particularly rising yields on US 10-year notes. 

Kevin McCarthy was ousted from his position as Speaker of the House of Representatives, after Congressman Matt Gaetz of Florida filed a removal motion, which was later voted down in the House of Representatives. The topic of contention here was an agreement on a budget stopgap dismissing the specter of a government shutdown. 

Investors' attention turns to services PMI data and ADP data from the US. Moreover, an important picture of the situation in the services market will be shown by PMI data for this sector in Europe, the UK and the US.

The most important macro readings of the day:

• 08:55 BST; Germany, services PMI index for September. Forecast: 49.8; earlier: 47,3.
• 09:00 BST; Eurozone, services PMI index for September. Forecast: 48.4. Earlier: 47,9.
• 09:10 BST; Eurozone, Lagarde speech.
• 09:30 BST; UK, services PMI index for September. Forecast: 47.2. Earlier: 49,5.
• 13:15 BST; US, ADP report for September. Forecast: 155 k. Earlier: 177 k.
• 14:45 BST; USA; services PMI index for September. Forecast: 50.2. Earlier: 50,5.
• 15:00 BST; USA; Services ISM index for September. Forecast: 53.6. Earlier: 54,5.
• 15:00 BST; USA; factory orders. Forecast: 0.2% m/m. Earlier: -2.1% m/m.
• 15:30BST; US; change in crude oil inventories according to EIA. Forecast: -0.4 bbl. Previously: 1.03 bbl.