Yesterday saw market data come in broadly better than expected. Highlights were US durable goods orders came in at 1.7% growth against an expected contraction of -1%. Canada's inflation came in better than expected also at 3.7% annualised growth. This could be an indication that conditions across the pond are getting under control.
Today it's mainly about speeches from the heads of global banks. There's the FED, the Band of England, the ECB and the Bank of Japan on stage. This could give some indication of the overall view around global economics.
Other than the speeches it's the US banks stress test later in the evening that could have some bearing.
Business news indicates the current economic situation in the UK could be leading to exploitative behaviour both from big chains such as supermarkets to privateer moneylenders charging exorbitant amounts of interest on short term loans. It would be a welcome relief for the UK to get some of the positive news being felt around the globe.
UK: 11:30 BoE's Huw Pill Speech
EUR: 11:30 ECB's Philip Lane Speech
UK: 14:30 BoE's Andrew Bailey Speech
US: 14:30 FED's Jerome Powell Speech
EUR: 14:30 ECB's Christine Lagarde Speech
JPN: 14:30 BoJ's Kazuo Ueda Speech
US: 21:30 US Bank Stress Test
AUS: Thursday 02:30 Retail Sales
US: Thursday 07:30 FED's Jerome Powell Speech
As ever we look forward to keeping you in the loop and look out for our next update.
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