Good Morning Traders! This Tuesday brings us Eurozone CPI and the the OECD publishing their economic outlook.
Here is what to expect.
Sentiment
Australia's central bank debated boosting interest rates this month but ultimately decided against doing so, highlighting a greater barrier to further tightening of policy.
Geopolitical tensions and the weakening economy have made American businesses in China more pessimistic than they have been in decades about the possibility of conducting business there in the coming years.
The greatest capital outflow from China in recent memory is alarming the government and adding to the pressure on the yuan, which is already under pressure. In addition to commitments made by top officials this year to open up to international investors, China's central bank will step up efforts to stabilise trade and enhance the business environment for foreign companies, according to its governor on Monday.
Francois Villeroy de Galhau, a member of the Governing Council, stated that the European Central Bank will maintain interest rates at 4% for as long as necessary to control inflation, indicating that he does not currently support additional hikes.
As the physical market exhibited further symptoms of tightness brought on by production curbs from OPEC+ leaders, oil prices hovered close to a 10-month high.
Docket
05:00 AM ET
Eurozone CPI YoY Final
Median Forecast 5.3% | Prior 5.3% | Range 5.3%/5.3%
Eurozone CPI MoM Final
Median Forecast 0.6% | Prior -0.1% | Range 0.6%/0.6%
OECD Publishes Economic Outlook
Speakers
04:15 AM ET
BoE's Saporta Speaks
06:00 AM ET
Germany's Lindner Speaks
Good Luck Today Traders!
