Key Points
LONDON (Reuters) -Investors kicked off a shortened week in subdued mood on Monday with stock benchmarks steady near last weeks lifetime highs as looming U.S. inflation data provides the next milestone in the summer rate cut narrative...
The yen, however, was still within striking distance of a 32-year low as Japans top currency diplomat said on Monday the currencys weakness did not reflect fundamentals, adding to therhetoric of government officials who have stepped up warnings inrecent days over the currencys decline...
On Wall Street, where stock indexes also hit record highs last week, the S&P 500 on Friday ended with its biggest weekly percentage gain of 2024 after the U.S. Federal Reserve stuck with projections for three rate cuts by years end...
The market is just taking in what its seen in the last week or two, but unless there are any major surprises in either inflation or growth, its hard to see where the market cracks come through, Da Silva said, adding that he was watching oil prices closely, given the impact any big rise could have on reviving inflationary pressures...
The main data event of the week will be the U.S. core personal consumption expenditure (PCE) price index on Friday, which is seen rising 0.3% in February, keeping the annual pace at 2.8%..
