Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
Euro zone market sentiment keeps going up
In October, euro zone economic market sentiment edged up for the fifth consecutive month, thus demonstrating its highest outcome since the beginning of 2001. It demonstrated nearly no impact from the Catalan crisis. That’s what European Commission data disclosed on Monday.
The near 17-year maximum, the highest value since January 2001, exactly when the bursting of the "dot-com bubble" had started hitting confidence in the euro zone, evidently confirmed the sturdy economic revival of the EU after a decade-long economic as well as financial crisis.
As the monthly poll disclosed, sentiment in the euro zone tacked on more than anticipated on average by market experts surveyed by Reuters. In October, it gained from 113.1 to 114.0 points.
Confidence greatly rose in Germany, which is the bloc's number one economy. Additionally, it gained in Italy, while it slumped in France.
Notwithstanding the uncertainty surrounding the Catalan crisis, market sentiment also improved in Spain, with marked leaps in the industry as well as services sectors. However, confidence went down in the country's retail sector and also among consumers.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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