Good Morning Traders! This Wednesday we get German IFO data.
Here is what to keep in mind.
Sentiment
Australia's inflation rate exceeded expectations in the three months that ended in September, supporting the Reserve Bank's decision to hike interest rates the following month and driving up the yields on government bonds.
The second-largest economy in the world received further backing from Chinese President Xi Jinping, who increased the budget deficit ratio, issued more sovereign debt, and even paid an unprecedented visit to the central bank.
According to a former central bank official, China's recently announced stimulus plan will stimulate new economic sectors without funding the problematic real estate market.
Even if Japanese bond yields have gotten closer to the central bank's upper limit on yield management, most observers of the Bank of Japan anticipate that monetary easing will continue at the policy meeting held next week.
On indications that the Israel-Hamas battle will remain confined for the time being, oil stabilized after declining during the previous three sessions.
Docket
04:00 AM ET
German IFO Business Climate
Median Forecast 86 | Prior 85.7 | Range 89.5/88
German IFO Current Conditions
Median Forecast 88.5 | Prior 88.7 | Range 86/82.1
German IFO Expectations
Median Forecast 83.5 | Prior 82.9 | Range 90/85
Speakers
03:00 AM ET
Riksbank Executive Board Meeting
Earnings
07:30 AM ET
Boeing Q3 2023 Earnings
EPS $2.95| Est. Rev $15.33B
Good Luck Today Traders!
