European Economic News Preview: BoE & SNB To Raise Key Rates

RTTNews | hace 704

(RTTNews) - The Bank of England and the Swiss National Bank are widely expected to make a final quarter-point rate hike after the US Federal Reserve decided to keep the benchmark rate unchanged on Wednesday.

The Bank of England is set to end its tightening cycle with a final quarter point rate hike on Thursday as inflation slowed to an 18-month low in August. Markets expect policymakers to lift the bank rate to 5.50 percent in a three-way split vote. The announcement is due at 7.00 AM ET.

The Swiss National Bank is also likely to raise its benchmark rate by 25 basis points to 2.00 percent. The SNB has raised its rate over the last five consecutive meetings. The SNB announces its quarterly policy decision at 3.30 AM ET.

Sweden central bank as well as Norges Bank also publishes its monetary policy decision on Thursday. Both banks are forecast to lift the key interest rates by 25 basis points. Riksbank announces its decision at 3.30 am ET and Norges Bank releases the outcome of the meeting at 4.00 AM ET.

Other major economic reports due are public sector finances from the UK and business sentiment from France.

At 2.00 am ET, the Office for National Statistics releases public sector finance data for August. The budget deficit is forecast to widen to GBP 9.8 billion from GBP 3.48 billion in July.

At 2.45 am ET, France's statistical office INSEE publishes monthly business sentiment survey data. The business confidence index is forecast to rise to 97 in September from 96 in August.

At 10.00 am ET, the European Commission is set to release euro area consumer sentiment survey data. The confidence index is forecast to fall to -16.5 in September from -16.0 in August.

China Stock Market Due For Consolidation

The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.

RTTNews | hace 22 minutos

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | hace 52 minutos

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 1h 22min

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 1h 52min

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | hace 2h 7min

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 2h 22min

RBA Minutes On Tap For Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.

RTTNews | hace 3h 22min

U.S. Dollar Climbs Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | hace 4h 34min

EURUSD	1.16374	GBPUSD	1.34708	AUDUSD	0.64869
USDJPY	147.329	USDCAD	1.38506	USDCHF	0.80438