Europe Market Open: Mixed trade with Chinese data in focus into a packed week incl. FOMC & BoJ
16.09.2024
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- APAC stocks were mixed amid the holiday-thinned conditions and as participants braced for this week's central bank announcements including from the FOMC, BoE and BoJ.
- Chinese house prices further deteriorated, while the latest Chinese Industrial Production and Retail Sales also disappointed.
- After last week's late dovish Fed repricing, odds of a 50bps cut sit at 59% vs. 41% chance of a 25bps reduction.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed higher by 0.6% on Friday.
- DXY is on the backfoot and back below the 101 mark, EUR/USD sits around the 1.11 level, JPY is the biggest gainer vs. the USD.
- Looking ahead, highlights include EZ Labour Costs/Wages, NY Fed Manufacturing, Canadian Manufacturing Sales, ECB Survey of Monetary Analysts, Comments from ECB’s de Guindos & Lane.
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