October 03, 2024 at 07:33AM
The Newsquawk Europe Market Open: APAC stocks traded mixed, BoE Bailey’s comments move cable lower
Full Note
APAC stocks traded mixed amid the backdrop of several holiday closures and ongoing geopolitical tensions, while Hong Kong participants booked profits.
Fed’s Barkin (2024 voter) said he sees two 25bps cuts this year as “a reasonable path” if the economy evolves as expected.
BoE Governor Bailey said the bank could be a “bit more aggressive” in cutting rates provided the news that inflation continues to be good, in an interview with The Guardian.
Israeli security cabinet decided to implement a harsh response to the Iranian attack and the response to Iran will be cruel but it will not lead to a regional war.
European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.5% after the cash market closed higher by 0.2% on Wednesday.
Looking ahead, highlights include EZ/UK/US Services/Composite PMIs (Final), Swiss CPI, EZ Producer Prices, US Challenger Layoffs, IJC, Durable Goods (R), Factory Orders, ISM Services PMI, BoE Decision Maker Panel (Sept), Speakers include Fed’s Bostic & Schmid, Supply from Spain, France & US, Earnings from Constellation Brands & Tesco.
This article was written by Ryan Paisey at www.forexlive.com.