European Market Open: Mostly positive trade, as participants continue to second-guess the Fed
17/9/2024
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- APAC stocks were mostly positive but with gains capped as participants continued to second-guess the magnitude of the looming Fed rate cut, while markets in Mainland China, Taiwan and South Korea remained closed for holidays.
- Money markets now price in a 67% probability of a 50bps Fed rate cut on Wednesday vs the 48% probability seen on Friday, via Reuters.
- US and Japan are nearing a deal to curb chip technology exports to China, according to FT.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.4% after the cash market closed lower by 0.3% on Monday.
- Looking ahead, highlights include German ZEW Sentiment, US Retail Sales, Canadian CPI, US Industrial Production, Business Inventories, NZ Current Account, Comments from ECB’s Elderson, Fed’s Logan & BoC’s Rogers, Supply from the UK & US.
Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk
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