The FOMC decision is at 1800 GMT with Powell’s press conference 30 minutes later. That’s going to dominate the trading day but there is some important data coming up at the bottom of the hour.
There is a coherent message from the ECB this week and that is as what the headline reads out to be. Policymakers have signaled that they will only look to consider any potential changes in September so until then, expect the ECB to keep the status quo.
– Prior -3.1%
– Market index 672.4 vs 645.4 prior
– Refinancing index 3,026.6 vs 2,869.2 prior
The prior week’s release can be found . Both purchases and refinancing activity showed a modest rebound in the past week but the trend as of late is still hinting
Or are we settling into a new range for the bond market below 1.50% and its 100-day moving average (red line) even as inflation expectations are still elevated.
Tokyo and Osaka are among the two prefectures looking to try and keep some form of tighter restrictions to prevent another virus wave from taking over again but for now, the numbers are showing an improving situation ahead of the Olympics at least.