Good Morning Traders! It is Wednesday the 3rd of May, a Chinese and Japanese bank holiday, with Eurozone Unemployment Rate as the headline figure.
Here are some things to be aware of before today's session.
Sentiment
In the midst of ongoing financial market instability and fresh pressure from lawmakers to hold off, the Federal Reserve is anticipated to announce a 25 basis-point interest-rate rise and suggest a pause in its aggressive rising campaign.
After Wall Street exhaled a sigh of relief when First Republic Bank was saved the day before, a decline in US regional lenders stoked new concerns about financial stability, sending stocks lower across the board and encouraging investors to flee to the market's safest areas.
Treasury Secretary Janet Yellen's warning that the US government might hit the debt ceiling as early as the beginning of next month caused yields on Treasury bonds due in early June to surge on Tuesday.
According to tanker-tracking data, Russia's oil exports increased to over 4 million barrels per day last week, providing no indication that Moscow has complied with its threat to reduce output.
After falling 5% on Tuesday as investors eschewed risky assets and data suggested a potential US recession, oil prices stabilised in Asia.
Docket
04:00 AM ET
Italian Unemployment Rate
Median Forecast 8% | Prior 8% | Range 8.1%/7.9%
05:00 AM ET
Eurozone Unemployment Rate
Median Forecast 6.6% | Prior 6.6% | Range 6.7%/6.5%
Good Luck Today Traders!
