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A huge week ahead for headline economic data, events, and big tech earnings reports. Volatility is likely to pick up across a range of assets classes.
The German economy failed to grow in the first quarter of 2023 but also narrowly avoided a contraction, Euro Area registered a minor gain. Euro and DAX head lower
US yields are continuing to push-higher this week but, so far, US Dollar strength has not been tracking that theme. A common culprit of such scenarios is rates lifting by more elsewhere, and after the past two weeks with the ECB and FOMC, one bank has clearly laid down a more-hawkish stance and that’s the Central Bank that waited to start hiking rates last year.
The most important report that the Federal Reserve will use in their decision process about their monetary policy is next week’s CPI inflation report for September.
Gold prices extended lower as Russia noted there are “certain positive shifts” in negotiation with Ukraine. Rising Treasury yields also dented the precious metal. Gold ETFs saw large net inflows ov...