Crude, Prices, Inflation.
Ridhwan Rosli
Business Development Manager - APAC Region @ Weltrade Ltd. Global Strategic Partnerships | Global Macro Sense
A very good morning to all readers as we look towards kicking off the European cash trade this Tuesday.
In APAC trade, US futures edge higher & WTI Crude Oil futures slip ahead of key US CPI data for August set to be released at 1330 GMT. Markets are expecting Core Inflation YoY to come in at 6.1% against the prior 5.9% and headline YoY Inflation at 8.1% versus 8.5% prior. In short, markets are poised for a softer reading which puts into perspective the dollar pullback we have seen this week so far.
Apart from that, OPEC is set to release its Monthly Report today, and the ZEW Economic Sentiment Index for September out of Germany is scheduled to be released at 1000 GMT.
Another possible catalyst moving forward on the global slowdown side of things, Goldman Sachs predicts China will be sticking to COVID ZERO policy even after the much-anticipated 20th Communist Party Meeting.
That is it from me today. Keep a steady hand ahead of the CPI today and as discussed overnight with our Head of Trading, Tim Duggan - mind your context. To catch that recording, head on to our YouTube Channel.
This was - Your Morning Reed.
Sources: Trading Economics, Bloomberg, Amplify Trading, RTRS, MacroHIVE.
Disclaimer: This piece is for information purposes ONLY and not meant as trading/investment advice. Trading futures carries with it inherent risks and done so at your own risk.