CB Consumer Confidence decreases to 107.1 (vs est 109) – higher interest rates weigh on the business confidence and the short-term employment outlook.
The Euro has backed away from last week’s peak against the US Dollar in anticipation of further tightening from the Federal Reserve tomorrow. Where to for EUR/USD?
The FTSE 100 and Dax 40 have remained rangebound ahead of ECB and BoE. Despite mixed earnings and unrest over wages in the UK, European equities remain resilient.
The Fed’s rate setting committee has the power to quell impressive US equity gains and prompt a resurgence in the US dollar should it continue to stress inflation risks.
GBP/USD rangebound as the medium-term direction remains uncertain. FOMC and BoE to provide clarity moving forward.
Gold prices have been a one-way bet for three months, posting gains on a softer Dollar and hopes that the Fed is losing its enthusiasm for interest rate hikes
Headline inflation in the Euro Area is falling sharply, according to initial Eurostat data, with lower energy prices helping to cut the cost of living.
USD/JPY looks ahead to the Fed’s interest rate decision with caution as the Yen flirts with the 130 handle.
A week of heavy event risk has started with some tentatively provocative moves from the major corners of the market. The S&P 500 and Nasdaq 100 reversed lower after last week’s extensions suggested bulls were in control. Meanwhile, the Dollar is probing a break from an extremely tight range. The activity can be enticing, but be wary…
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