Ipek Ozkardeskaya
Swissquote Bank Ltd
China said there will be a significant bond issuance to help reverse the deepening property crisis and local governments, but didn’t put numbers on their plans. Israel didn’t attack Iran but some reports hinted that the Israeli army could be narrowing their targets on military and energy infrastructure. As such, crude oil kicked off the week downbeat. The barrel of US crude is trading below the $75pb mark in the early ours of Monday trading, Chinese stocks are mixed, the Aussie is under pressure.
In the US, Friday’s US producer price data was mixed, and the bank earnings were better-than-expected. The US dollar extended gains, and the S&P500 hit a fresh record.
More earnings from big banks and Big Tech are due this week, along with a 25bp cut from the European Central Bank (ECB) that will accompany the latest Eurozone and UK CPI figures.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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