Europe Market Open: Powell hints at return to smaller rate cuts, Eurozone CPI data ahead
1.10.2024
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3:18
- APAC stocks began the new quarter mixed amid a slew of data releases and several key market closures with Mainland China, Hong Kong and South Korea closed
- Fed Chair Powell hinted at a return to 25bp rate cuts and noted that the Fed is not in a rush to cut rates quickly.
- Israeli military said it began limited, localised and targeted raids against Hezbollah targets in the border area of southern Lebanon.
- European equity futures are indicative of a positive cash open with the Euro Stoxx 50 future +0.2% after the cash market closed lower by 1.3% on Monday.
- DXY is steady and holding onto yesterday's gains, JPY remains pressured vs. peers, EUR/USD sits on a 1.11 handle.
- Looking ahead, highlights include final EZ, US, Canadian Manufacturing PMIs, EZ HICP, US ISM Manufacturing PMI, JOLTS Job Openings, Riksbank Minutes, ECB’s de Guindos, Rehn & Schnabel, BoE’s Pill, Fed’s Bostic, Cook & Barkin, Supply from UK & Germany, Earnings from Paychex and Nike
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