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The FTSE 100 closed at a three-year low yesterday after oil prices fell again, before recovering some of that ground, and markets awaited the US Fed meeting later this week. Brent dipped to $36.33 while US WTI fell below $35.
The euro strengthened after ECB President Draghi reiterated that the current level of stimulus provided by the ECB should be sufficient to return inflation to the target 2% rate.
The pound weakened as MPC Member Shafik indicated that she would “proceed with caution”, looking for further wage growth before voting to raise interest rates.
Today’s releases include inflation figures from both the UK and the US, Eurozone economic sentiment, the Global Dairy Trade Price Index, and Canada’s Manufacturing Sales. MPC Member Haldane will speak at the Engineering and Math Commission this morning (9:30am), and Bank of Canada Governor Poloz will hold a press conference on the Financial System Review this afternoon (4:45pm).
The euro strengthened after ECB President Draghi reiterated that the current level of stimulus provided by the ECB should be sufficient to return inflation to the target 2% rate.
The pound weakened as MPC Member Shafik indicated that she would “proceed with caution”, looking for further wage growth before voting to raise interest rates.
Today’s releases include inflation figures from both the UK and the US, Eurozone economic sentiment, the Global Dairy Trade Price Index, and Canada’s Manufacturing Sales. MPC Member Haldane will speak at the Engineering and Math Commission this morning (9:30am), and Bank of Canada Governor Poloz will hold a press conference on the Financial System Review this afternoon (4:45pm).