The @Newsquawk Europe Market Open: APAC stocks mixed, BoE Bailey’s comments move GBP lower

The Newsquawk Europe Market Open: APAC stocks traded mixed, BoE Bailey’s comments move cable lower

Full Note

• APAC stocks traded mixed amid the backdrop of several holiday closures and ongoing geopolitical tensions, while Hong Kong participants booked profits.
• Fed’s Barkin (2024 voter) said he sees two 25bps cuts this year as “a reasonable path” if the economy evolves as expected.
• BoE Governor Bailey said the bank could be a “bit more aggressive” in cutting rates provided the news that inflation continues to be good, in an interview with The Guardian.
• Israeli security cabinet decided to implement a harsh response to the Iranian attack and the response to Iran will be cruel but it will not lead to a regional war.
• European equity futures are indicative of a negative cash open with the Euro Stoxx 50 future -0.5% after the cash market closed higher by 0.2% on Wednesday.
• Looking ahead, highlights include EZ/UK/US Services/Composite PMIs (Final), Swiss CPI, EZ Producer Prices, US Challenger Layoffs, IJC, Durable Goods (R), Factory Orders, ISM Services PMI, BoE Decision Maker Panel (Sept), Speakers include Fed’s Bostic & Schmid, Supply from Spain, France & US, Earnings from Constellation Brands & Tesco.

This article was written by Ryan Paisey at www.forexlive.com.