Good Morning Traders! This Wednesday, we get UK CPI as the headline release of the day.
Here is what to expect.
Sentiment
Foreign exchange traders were reminded once more that Japanese policymakers are prepared to step in if swings in the yen become extreme as they prepared for this week's policy announcements from the Federal Reserve and Bank of Japan.
Following the central bank's decision to maintain policy rates unchanged while authorities evaluate the economic impact of current stimulus measures, China's commercial lenders kept their benchmark lending rates unchanged on Wednesday.
Li Xianzhong, head of the Treasury Department at the Ministry of Finance, says at a briefing that China has increased the scrutiny of local government finances.
Following a slowdown in inflation, the Federal Reserve is anticipated to pause interest rate increases on Wednesday for the second time this year but still keeping the door open for another increase as early as November.
Following the easing of the guide rails around bond yields, investors keeping an eye on Bank of Japan policy have turned their attention to the potential termination of the central bank's negative interest rate.
Crude's measurements continued to suggest that prices may have risen too far, too quickly as the global markets maintained a cautious stance ahead of a Federal Reserve meeting, and oil plummeted following a ferocious rally.
Docket
02:00 AM ET
UK CPI YoY
Median Forecast 7% | Prior 6.8% | Range 7.2%/6.4%
UK Core CPI YoY
Median Forecast 6.8% | Prior 6.9% | Range 7.0%/6.6%
Speakers
03:00 AM ET
ECB's Panetta Speaks
03:30 AM ET
ECB's Enria Speaks
05:00 AM ET
BoE's Truran Speaks
ECB's Schnabel Speaks
Good Luck Today Traders!
