Surge in Oil casts shadow over prospects for rate cuts [Video]
|US crude jumped past the $79b level this morning on escalating tensions in the Red Sea. The European and American futures are slightly in the negative at the time of writing, and stocks in Hong Kong and China were better bid on Monday as China imposed ban on short sellers, but the gains remained short-lived after a HK court ordered Evergrande’s liquidation. Globally, we see a limited risk appetite at the start of a week packed with economic data, central bank decisions and corporate earnings.
The Fed and the Bank of England (BoE) decision, euro area growth and inflation numbers, Australian inflation update, Canadian GDP and the US jobs numbers will be closely watched this week along with Microsoft, Alphabet, Apple, AMD, and US big oil companies earnings.
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