Good Morning Traders! This Wednesday we get a packed day of data, from German State CPI's to the OECD's Outlook being published.
Here is what to expect.
Sentiment
As a result of signals from two Federal Reserve officials who spearheaded the fight for higher interest rates to combat inflation last year, predictions that the Fed's current cycle of rate hikes is coming to an end have increased.
According to billionaire investor Bill Ackman, the Fed will start reducing interest rates earlier than the markets anticipate. According to the founder of Pershing Square Capital Management, a move of this nature might occur as early as the first quarter.
For the fourth consecutive meeting, the central bank of New Zealand held interest rates steady, but it hinted that there was a greater chance it would hike again the following year.
October saw the end of two months of increases in Australia's monthly inflation gauge, which supports the Reserve Bank's decision to continue holding interest rates down next week.
According to persons familiar with the proceedings, congressional negotiators were about to scrap their plans to tighten restrictions on US investment in Chinese technology through the annual defence policy bill on Tuesday.
As traders awaited a crucial OPEC+ meeting on supply and considered indications that the Federal Reserve may soon stop rising interest rates, oil prices continued to rise for a second day.
Docket
04:00 AM ET
Credit Suisse Survey Expectations
UBS Survey Expectations
04:30 AM ET
BoE Consumer Credit
Median Forecast 1.5B | Prior 1.391B | Range 1.6B/1.4B
05:00 AM ET
OECD Publishes Economic Outlook
Good Luck Today Traders!
