Saudi wants to walk it alone [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The S&P500 printed its 42nd record high this year yesterday on the back of a mix bag of economic and corporate news.

Due today, the Fed’s favourite gauge of inflation, the core PCE index, will determine whether the soft landing dreamers will carry the US stock rally to fresh record levels.

Elsewhere, the mix of Chinese monetary and fiscal stimulus measures continue to boost Chinese and China-related stocks. LVMH jumped 10% yesterday.

Crude oil remains under pressure on reports that Saudi Arabia will drop its price target and focus on expanding its market share. And finally, in Europe, the soft CPI reads from France and Spain will likely set a ceiling on EURUSD near 1.12, of course, if the data from the US doesn’t come with a big surprise.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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