Good Morning Traders, we have a very quiet session ahead of us this Monday.
Here is what to expect.
The Bank of Japan is anticipated to maintain the status quo at this week's meeting for a number of reasons, including a less distorted bond market, persistent wage stagnation, and the possibility of an early election.
In May, the rate of increase in producer prices in Japan slowed to the lowest level in over two years, pointing to an easing of inflationary pressures. The Bank of Japan said on Monday that a gauge of input prices for Japanese businesses increased 5.1% in May from a year earlier, the slowest reading since June 2021.
After weaker-than-expected expenditure in the first half of 2023 and declining energy prices supported GDP, UK economic experts are rethinking their predictions of a recession.
An official from the Bank of England advised the UK government to change the focus of economic policy from being a quick fix to one that is more sustainable.
Oil continued to fall as Goldman Sachs lowered its price prediction amid ongoing worries about the demand outlook.
02:30 AM ET
ECB's Simkus Speaks
Good Luck Today Traders!