The price of oil may continue to hold above the 50-Day SMA ($87.58) as a bull-flag formation appears to be taking shape.

The pace of rate hikes from the Bank of Canada, Reserve Bank of Australia, and Reserve Bank of New Zealand is anticipated to slowdown.

The S&P 500 rebounded from big losses triggered by hotter-than-expected U.S. CPI data, rallying more than 2.5% at the market close ahead of the official start of the earnings season on Friday.

Fedspeak continues to smash home the hawkish rhetoric as markets churn lower in anticipation of another supersized rate hike in November.

USD strength holds firm as risk assets falter. For Dax, a rejection of resistance places the index at further risks of decline. 12,000 – 12,400 zone remains key.

September headline inflation eased to 8.2% from 8.3%, but core CPI accelerated to 6.6%, topping the cycle’s high in March and reaching the highest level since 1982.

German inflation printed in line but the lead up to the US CPI will be followed closely given last month’s sharp reversal after inflation proved stubborn. EUR/USD setup

Brent Crude steadied after recent falls but worries over end-user demand seem to be outweighing the supportive effects of production cuts.