Daily Alert – Thursday 9th June 2022: ECB in the spotlight

Mark NugentDaily Alert, June 2022

Daily Alert – Thursday 9th June 2022: ECB in the spotlight

Good morning.

Risk sentiment has been indecisive all week. Yesterday saw Eurozone GDP beating expectations. The day before we had Japanese GDP which also beat expectations but was still a negative number, showing contraction of the economy.

Today it’s all eyes on the European Central Bank. The question is by how much and at what rate will they begin to raise rates in July? It was not so long ago they were saying they would not raise rates at all. On Tuesday we had the Reserve Bank of Australia unexpectedly hiking by 50 basis-points and closing the gap with the Fed who were the first to take significant action. Will the ECB try to play catch-up with the Fed by indicating a faster hiking profile? We will see at lunchtime.

We’ll be back on Monday. Have a great weekend when it comes.

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