Good Morning Traders! This Thursday we get comments from a plethora of ECB speakers.
Here is what to keep in mind.
Sentiment
October saw China slip back into deflation, underscoring the nation's difficulty bolstering growth through internal demand.
A summary of the board members' thoughts from the meeting last month at the Bank of Japan indicates that they deliberated policy options with an eye towards possibly ending the world's current negative-rate regime.
September saw the largest purchase of US sovereign bonds by Japanese investors in six months, highlighting money flows into higher-yielding debt that is depressing the yen. Data released on Thursday shows that funds based in Japan bought a net ¥3.31 trillion ($22 billion) of Treasuries in September while selling debt in the majority of other sovereign markets monitored by the Ministry of Finance.
President of the Federal Reserve Bank of Philadelphia Patrick Harker reiterated his belief that as the central bank's aggressive rate-hiking campaign works its way through the economy, policymakers should keep interest rates unchanged.
According to Kyodo News and other media, Japanese Prime Minister Fumio Kishida has decided against holding an election before the end of the year because his support ratings have been declining despite his promise of tax rebates.
Following an almost 7% decline over the previous two sessions due to indications that the demand picture is worsening, oil prices increased in tandem with the wider financial markets.
Docket
04:00 AM ET
ECB Economic Bulletin
Speakers
03:00 AM ET
ECB's Villeroy Speaks
EU Finance Ministers Meet
03:10 AM ET
ECB's Lane Speaks
03:30 AM ET
BoE's Pill Speaks
03:35 AM ET
BoJ's Ueda Speaks
Good Luck Today Traders!
