Daily Alert – Tuesday 29th August 2023: ECB expected to hike in September

Mark NugentAug 2023, Daily Alert

Daily Alert – Tuesday 29th August 2023: ECB expected to hike in September

Good morning.

Risk sentiment was indecisive yesterday as the lazy summer season drags on.

Global equity indices rose slightly. Oil was flat and GOLD barely moved. Currencies are largely directionless.

All eyes are on German and eurozone inflation on Wednesday and Thursday, and what impact that may have on the European Central Bank’s interest rate decision on 14th September. On balance, there seems to be a feeling that they will hike one more time. I go into more detail on this in the video.

Later today we have US Consumer Confidence and JOLTS Job Openings. The latter often moves the markets.

I’ll be back tomorrow.

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