Senior Market Analyst Jeffrey Halley talks about news impacting the market and the week ahead.
In this week’s episode, equities are rallying powerfully in Asia and Europe, and the question is whether this bear market rally has some legs to it? We start the day talking about the baking temperatures in the UK and Europe, the merits of air conditioning in Asia, and the economic impact of people staying indoors. We revisit this theme a few times as we discuss today’s Asian and European stock market rally after some positive news out of China.
Then it’s onto last Friday’s US consumer sentiment and retail sales data. With both data sets outperforming, stock markets shrugged off 100 basis point hike fears from the Fed and rallied, causing a sentiment rally across asset classes. We dig a little deeper into that. Then it’s onto whether the equity rally has legs in a slow global data week. We move to the ECB policy decision on Thursday and then the week’s main risk event from Jeff’s perspective. Will Russia turn the gas pipeline back on this Thursday? Following that, a quick look at the data calendar ahead and then the Bank of Japan and Bank Indonesia policy decisions. Of the two, BI’s looks set to have a more significant market impact in Asia.
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