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EUROPEAN MARKETS: HERE ARE THE OPENING CALLS European markets are heading for a flat open Tuesday. The UK’s FTSE 100 index is expected to open 3 points lower at 7,459, Germany’s DAX down 21 points at 15,953, France’s CAC down 1 point at 7,269 and Italy’s FTSE MIB down 5 points at 29,377, according to data from IG. Source: CNBC AUSTRALIAN DOLLAR REACHES ITS HIGHEST SINCE EARLY AUGUST Important events regarding AUD took place this morning: → the level of retail sales for the month in Australia unexpectedly fell: actual = -0.2%, expected = 0.1%, a month earlier = 0.9%. → a press conference was held by the head of the RBA, Michelle Bullock, according to whom inflation in Australia follows the path of overseas countries. That is, inflation is decreasing, as in the USA and Great Britain. Against the background of these events, the AUD/USD rate exceeded the level of for the first time since the beginning of August. The rally from the late October low is already about 5.5%. Source: FXOpen US RECESSION WILL PROMPT 175 BASIS POINTS IN FED CUTS NEXT YEAR - DB ECONOMISTS The Federal Reserve will cut rates more aggressively than markets are currently pricing in as a mild US recession arrives in the first half of next year, economists at Deutsche Bank projected on Monday. In an outlook report, the Deutsche Bank economists projected 175 basis points in rate cuts in 2024. With the Fed rate currently at %-5.5%, that would reduce the rate to 3.5%% by the end of the year. Traders are currently pricing in a rate of % by December 2024, according LSEG data. Source: Reuters 🌐 FXOpen official website: Join us on our social networks: ✅ ✅ ✅ ✅ CFDs are complex instruments and come with a high risk of losing your money.
