Good Morning Traders! Picking up from yesterday, today we get UK Unemployment and German CPI data.
Here is what to expect.
Sentiment
China's central bank lowered its short-term policy interest rate and loosened monetary policy in an effort to support the country's recovering economy. According to a statement released on Tuesday, the People's Bank of China reduced the seven-day reverse repurchase rate by 10 basis points to 1.9%. Since August 2022, there has not been a decrease in the rate before.
Data on the consumer price index that are scheduled to be released on Tuesday might help Federal Reserve officials' efforts to suspend their tightening drive this week.
Due to ongoing worries about the demand forecast in China and the US, oil prices have remained close to their lowest levels in almost three months.
Docket
02:00 AM ET
UK Unemployment Change
Median Forecast 21.4k | Prior 46.7k
UK Unemployment Rate
Median Forecast 4% | Prior 3.9%
German HICP Final YoY
Median Forecast 6.3% | Prior 6.3% | Range 6.3%/6.3%
05:00 AM ET
German ZEW Current Conditions
Median Forecast -42 | Prior -34.8 | Range -30/-50
German ZEW Economic Sentiment
Median Forecast -13.1 | Prior -10.7% | Range -8.8/-20.0
Speakers
03:15 AM ET
Germany's Economy Minister Habeck Speaks
05:00 AM ET
BoE's Greene Speaks
Good Luck Today Traders!
