Good Morning Traders! This Monday we get comments from a plethora of ECB speakers.
Here is what to expect.
Sentiment
Australia's central bank is about to restart a pause in interest rate hikes as new data indicates that inflation and housing price growth are slowing down, supporting earlier tightening.
Despite efforts by the Federal Reserve to cool investor enthusiasm, gold surged above a previous all-time high reached in the thick of the pandemic on growing prospects for US rate cuts early next year.
Following a six-week losing streak, oil prices stabilised amid rumours that the Federal Reserve will soon stop hiking interest rates and the potential for further tightening of US sanctions against Venezuelan oil supplies.
For the first time since May 2022, Bitcoin reached $40,000 as the largest digital asset continued to rise due to forecasts of lower interest rates and increased demand from exchange-traded funds.
A ferocious rise in the bond market indicates that traders believe the Federal Reserve's cycle of rate increases is finished. The topic of discussion now shifts to the timing and magnitude of central bank cuts.
Docket
04:30 AM ET
Eurozone Sentix Investor Confidence Index
Median Forecast -15.55 | Prior -18.6 | Range -5.0/-18.0
Speakers
03:45 AM ET
ECB's de Guindos Speaks
06:10 AM ET
ECB's Elderson Speaks
06:30 AM ET
BoE's Dhingra Speaks
Good Luck Today Traders!
