Good Morning Traders! This Wednesday we get UK and Eurozone CPI data.
Here is what to keep in mind.
Sentiment
The third quarter saw consumer spending increase and the government increase assistance for growth, but the property market continued to be a drag on the economy.
On Wednesday, the Bank of Japan announced an unforeseen bond-purchasing operation, reassuring the market of its commitment to reducing the rate at which sovereign rates are rising.
Japan's 10-year government bond yield increased to its highest level in a decade amid speculation that the central bank is moving close to reversing its zero interest rate policy and a selloff in global debt.
According to persons familiar with the situation, the Bank of Japan is likely to debate increasing its inflation prediction for fiscal years 2023 and 2024 at its policy meeting later this month, prolonging the time frame in which it sees prices reaching or exceeding its 2% goal.
For the first time since at least the early 1990s, when the Reserve Bank started inflation targeting and entered the modern period, Australian house prices are poised for an annual rebound during a policy tightening campaign.
Before President Joe Biden's arrival in the region, tensions in the Middle East spiked following a fatal bombing at a Gaza hospital, causing oil to rally.
Docket
02:00 AM ET
UK CPI YoY
Median Forecast 6.6%| Prior 6.7%| Range 6.8%/6.2%
UK Core CPI YoY
Median Forecast 6%| Prior 6.2% | Range 6.3%/5.8%
05:00 AM ET
Eurozone CPI YoY Final
Median Forecast 4.3% | Prior 4.3% | Range 4.4%/4.3%
Eurozone CPI MoM Final
Median Forecast 0.3% | Prior 0.5% | Range 0.3%/0.3%
Speakers
03:00 AM ET
Riksbank's Thedeen Speaks
03:30 AM ET
ECB's Elderson Speaks
04:30 AM ET
Riksbank's Floden Speaks
07:00 AM ET
Riksbank's Floden Speaks
Earnings
07:30 AM ET
Morgan Stanley Q3 2023 Earnings
EPS $1.30 | Est. Rev $13.20B
Good Luck Today Traders!
