The ECB projections will hold the key in the week ahead as market participants still price in 125bps of rate cuts in 2024. Can the Central Bank arrest the Euros slide?
US Jobs data came in strong across the board today in a move which is likely to see Fed Chair Powell offer little in terms of a confirmation regarding potential rate cuts in 2024. Fed Swaps already pricing in less easing in 2024.
Oil prices failed at a technical hurdle today as the OPEC+ meeting failed to convince. Despite announcing around 2 million bpd cuts for Q1 2024 market participants were expecting more as Global Markets continue to flash signs of a slowdown.
Oil prices continue to advance as news filtered through regarding the possibility of additional cuts by OPEC+ at tomorrow's meeting. News remains murky but market participants are running with it. Can an OPEC+ cut push WTI back above the $80 mark?