Good Morning Traders! This Thursday we have the quiet buildup to the ECB rate decision.
Here is what to expect.
Sentiment
European officials are concerned that China's rapidly expanding exports of electric vehicles could threaten millions of auto jobs, so the executive branch of the group on Wednesday opened an inquiry into Beijing's financial support for the EV sector.
Australian employment increased in August after a surprise decline, and the unemployment rate remained unchanged, indicating that the labour market is able to withstand the Reserve Bank's 12 interest rate rises.
An auction of Japanese 20-year notes saw more demand, which contributed to assuaging worries after remarks from the Bank of Japan governor on a likely normalisation of monetary policy caused market tremors. Bond futures increased.
The outlook for corporate capital investment was clouded in July when machinery orders in Japan dropped to their lowest level in over three years.
After the International Energy Agency added to fears of a supply shortage, oil rose towards a 10-month high.
Docket
08:15 AM ET
ECB Interest Rate
Median Forecast 4.25% | Prior 4.25% | Range 4.50%/4.25%
ECB Deposit Rate
Median Forecast 3.75% | Prior 3.75% | Range 4.00%/3.75%
Speakers
07:15 AM ET
ECB's Fernandez-Bollo Speaks
Good Luck Today Traders!
