The @Newsquawk Europe Market Open: China finance briefing, ECB and Fed speakers ahead

Full Note

🌏 APAC stocks traded mixed, initially benefiting from Wall Street’s tech-led rally, while China’s upcoming fiscal policy briefing looms.

💼 Key Developments:

• China’s Finance Ministry will hold a press briefing on October 12th to outline fiscal policy adjustments.
• RBNZ cut the Official Cash Rate by 50bps to 4.75%, while the RBI kept its Repurchase Rate unchanged at 6.50%, in line with expectations.
• US President Biden and Israeli PM Netanyahu are scheduled to speak on Wednesday, with Israel planning a measured response to the Iranian attack, avoiding an all-out war.

📈 European Equity Futures signal a flat open, following a 0.4% decline in the Euro Stoxx 50 on Tuesday.

🔍 Looking Ahead: Economic highlights include German Trade Balance, US Wholesale Sales, and FOMC & NBH Minutes.

• Key speakers today include ECB’s Elderson, and several Fed officials such as Bostic, Logan, Goolsbee, Jefferson, and Barkin.
• Bond supply from the UK, Germany, and the US also in focus.

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