- Asian stocks rose, building on gains on Wall Street, but the euro rose as investors considered the potential of Europe following the Fed with more large interest rate hikes.
- After the S&P 500 and Nasdaq 100 ended three-week losing streaks on Friday, Japanese and Australian equities climbed while US futures nudged higher. Profitless tech enterprises, meme stocks, and Bitcoin all soared over the week. Monday is a holiday for markets in China, Hong Kong, and South Korea.
- After Bundesbank President Joachim Nagel voiced support for more interest-rate hikes in Europe, the euro led gains against the US dollar. The yen retained Friday's bounce after Tokyo policymakers upped their pressure on the currency over the weekend.
- Investors are also anticipating August US inflation data on Tuesday, with headline CPI forecast to slow to 8% year on year, while the core measure, which excludes food and energy, is projected to accelerate. Following two 75 bps hikes, traders almost completely expect another jumbo-sized Fed hike next week.
- Fed's Bullard indicated he was leaning more firmly toward a third consecutive increase of that amount. Fed's George additionally stated that officials have a clear-cut argument for continuing to withdraw monetary support.
