Euro Market Open: Potential Israel-Lebanon ceasefire reports intensify, numerous ECB & Fed officials due
26/09/2024
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3:12
- APAC stocks shrugged off the subdued handover from Wall St and the recent geopolitical escalation, as some 'progress' was said to be made regarding a temporary ceasefire proposal and a 21-day ceasefire was proposed by US and France, while China benefitted again from stimulus.
- "Senior US officials have said that they expect a ceasefire deal to be implemented "in the coming hours" along Israel-Lebanon border", according to Walla News' Elster.
- China Politburo held meeting on Sept 26, and said they will lower the reserve requirement ratio and implement forceful interest rate cuts, according to Reuters.
- Fed's Kugler (2024 voter) said she strongly supported the Fed's 50bps interest rate cut and will support additional rate cuts going forward if progress on inflation continues as she expects.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.7% after the cash market closed lower by 0.5% on Wednesday.
- Looking ahead, highlights include German GfK Consumer Sentiment, US Durable Goods, GDP Final (Q2), Core PCE (Q2), IJC, SNB & Banxico Policy Announcements, Speakers including SNB's Jordan, ECB’s Elderson, Lagarde, de Guindos & Schnabel, Fed’s Powell, Williams, Collins, Kugler, Bowman, Barr, Kashkari & Cook, Supply from the US, Earnings from JD Sports, H&M, Costco & Jabil.
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