ISM Services Index and Fed Minutes to Steer Markets

The upcoming week in financial markets promises to be relatively quiet before the earnings season picks up steam. The ISM services index for September is expected to rise to 55.7 from 55.4, with analysts closely watching its prices paid component.

This reading could reinforce the manufacturing report's indication of mounting US pricing pressures and potentially weigh further on the euro. A sustained break below $1.1066 in EUR/USD could lead to a decline towards support near $1.075.

The Federal Reserve minutes from September's rate decision will also be closely watched, providing insight into officials' views on inflation and interest rates. The minutes may reveal which measures policymakers are watching to assess the inflation outlook.