🌏 Asia-Pacific stocks traded mixed, initially benefiting from a technology-led rally on Wall Street, while China’s upcoming fiscal policy summary looms.
💼Main developments:
- The Chinese Ministry of Finance will hold a press conference on October 12 to explain the fiscal policy adjustments.
- The Reserve Bank of New Zealand cut its policy rate by 50 basis points to 4.75%, while the Reserve Bank of India kept the repo rate unchanged at 6.50%, in line with expectations.
- US President Biden and Israeli Prime Minister Netanyahu are scheduled to speak on Wednesday, as Israel plans a measured response to the Iranian attack, avoiding all-out war.
📈 European stock futures point to a flat open, after the Euro Stoxx 50 index fell 0.4% on Tuesday.
🔍 Looking ahead: Economic highlights include German trade balance, US wholesale sales, FOMC and NBH minutes.
- Today’s keynote speakers include ECB President Elderson, and several Fed officials such as Bostic, Logan, Goolsbee, Jefferson, and Barkin.
- Bond supply from the UK, Germany and the US is also in focus.
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