- Global stock markets are broadly higher after the US banking sector finally staged a meaningful recovery yesterday, raising hopes that the banking crisis is ending. Most global equity indices have closed higher over the past day.
- In the Forex market, the US Dollar is making its second day of declines. Over the short term, the Australian Dollar looks like the strongest major currency, while the Swiss Franc is the weakest.
- Several commodities are performing strongly, notably WTI Crude Oil, while Cocoa has reached a multi-month high price.
- FOMC member Jefferson made a hawkish statement warning of inflation expectations setting in and stressing the need to get inflation down to 2% as quickly as possible.
- There will be a release of Australian CPI (inflation) data later which is expected to show a decline in the annualized rate from 7.4% to 7.2%,
- There will be a release of US CB Consumer Confidence data later.
- The Governor of the Bank of England will be testifying before the British Parliament about the recent collapse of two US banks. There is a small chance this could cause some volatility in the British Pound.