The Newsquawk Euro Market Open: RBA slowed its tightening pace, Europe set to open firmer, Fed speak ahead
Full Note (incl Podcast)
Summary:
APAC stocks notched firm gains as the region took impetus from the strong performance on Wall St (SPX +2.59%, NDX +2.36%).
European equity futures are indicative of a higher open with the Euro Stoxx 50 future +1.5% after the cash market closed with gains of 0.7% yesterday.
The RBA slowed down the pace of rate hikes with a surprise 25bps increase instead of the expected 50bps move.
DXY remains sub-112, AUD lags post-RBA, cable sits on a 1.13 handle and USD/JPY remains below 145.
North Korea fired a missile which flew over Japan and landed in the Pacific Ocean outside of Japan’s exclusive economic zone.
Looking ahead, highlights include US Factory Orders Speeches from Fed’s Williams, Logan, Daly, Mester & Jefferson, ECB’s Lagarde, UK Chancellor Kwarteng, Supply from UK & Germany
