Market insights

Global bank chiefs give speeches

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.

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Economic calendar

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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