- Investor emphasis was on how aggressive the European Central Bank will be in the fight against inflation when it releases its interest rate decision tomorrow, thus US equities futures and European stocks meandered in cautious trade.
- Wall Street contracts showed little movement after the S&P 500 and Nasdaq 100 advanced by about 2% on Wednesday. After retailers saw a profit warning from Primark-owner allied British foods, Europe's Stoxx 600 index gave up its earlier 0.6% gain.
- After hitting its lowest point against the dollar since 1985 on Wednesday, the pound lost ground.
- As traders evaluated remarks made by Federal Reserve officials regarding their commitment to fighting inflation, the dollar measure increased.
- While attempting to quickly address price pressures, central banks are treading a fine line between doing so and risking a catastrophic economic downturn. Later, the European Central Bank (ECB) resumes center stage, with economists forecasting a 75 basis point rate increase to front-load tightening even as the region struggles with an energy crisis.