Good Morning Traders! This Tuesday we expect comments from a plethora of ECB speakers.
Here is what to keep in mind.
Sentiment
President of the Federal Reserve Bank of Cleveland Loretta Mester stated that in order to bring inflation back to its objective of 2%, the US central bank will likely need to hike rates once more this year and then maintain them at higher levels for a while.
If Bank of Japan Governor Kazuo Ueda adopts the same principle he stated to vote against a rate hike more than two decades ago, the world's final negative policy rate will likely be abolished sooner rather than later.
Despite the fact that a global debt selloff has kept rates near multi-year highs and increased pressure on the central bank to defend its monetary policy, demand for Japan's auction of benchmark 10-year national bonds was strong on Tuesday.
At the Conservative Party conference this week, Rishi Sunak introduced a new campaign tagline: "Long-term decisions for a brighter future." However, three issues that the UK prime minister has so far been unable to address or unwilling to address have overshadowed the convention.
Oil declined for a fourth day in a row as macroeconomic worries obscured physical market tightness and clouded the outlook for demand.
Docket
02:30 AM ET
Swiss CPI MoM
Medfian Forecast 0% | Prior 0.2%
Speakers
02:00 AM ET
ECB's Simkus Speaks
02:10 AM ET
ECB's Lane Speaks
04:15 AM ET
Riksbank's Bunge Speaks
04:35 AM ET
ECB's Lane & Riksbank's Bunge Speaks
Good Luck Today Traders!