Good Morning Traders! This Wednesday brings a quiet session on the cards for the EU.
Here is what to be aware of.
Sentiment
China's consumer and producer prices both fell year on year in July, indicating deflationary pressures as demand in the world's second-largest economy diminishes.
Oil prices held steady in Asia after closing at their highest since mid-April on fears of an escalation in the war between Ukraine and Russia, ahead of data that could show an increase in US oil stockpiles.
The Bank of Japan's loosening grip on benchmark 10-year yields is shaking up the outlook for short-term borrowing costs, with swaps traders betting that the world's last negative interest rate policy would be ended in as little as eight months.
The Federal Reserve announced that it will increase its monitoring of lenders' engagement in digital assets, the latest attempt by US regulators to limit banks' involvement in cryptocurrency.
According to persons familiar with the topic, a US plan to restrict investment in China will likely apply exclusively to Chinese companies that generate at least half of their revenue from cutting-edge fields such as quantum computing and artificial intelligence.
Docket
07:00 AM ET
US MBA 30-Yr Mortgage Rate
Prior 6.93 %
Good Luck Today Traders!
