A look at the day ahead in European and global markets from Ankur Banerjee:
With a Fed pivot coming in to view, thanks to Jerome Powell, and optimism about China's reopening prospects, investors have rediscovered their risk appetite, pouring into equities and sending safe-haven U.S. dollar lower.to suggest that the central bank could slow the pace of its interest hikes when it next meets in two weeks, without giving any new hawkish hints.
"It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down," Powell said.European futures indicate stocks in the region will spike higher, tracking Asian equities, which were tracking Wall Street. The dollar remains in descent mode, while U.S Treasuries are rallying.
Meanwhile, the lone "dove" among major central banks, the Bank of Japan, will aim to keep interest rates ultra-low until wage growth gets a boost, board member said in a speech to business leaders. "To promote wage growth, the BOJ needs to patiently maintain its current monetary easing."Economic events: Germany Oct retail sales; Nov PMI's globally finalBond auctions: UK, Japan, Spain, France sell bonds
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