Markets Eye Crucial Economic Data Amid Cautious Optimism
Markets are starting Thursday's session in a cautious and optimistic mood. The relative calm in the Strait of Hormuz and the slowdown in US bond yields have given stock markets some breathing space, though investors are awaiting this afternoon's batch of data from the US economy.
The day's key figures include Switzerland's CPI inflation figures for August and GDP figures for the second quarter, which will shape expectations regarding the SNB's forthcoming decisions. Eurozone and UK PMI indices for services will also be released, showing whether European services are holding up well despite central banks' restrictive policies.
The US is expected to report on jobless claims, trade balance figures, and a speech by C. Waller of the Fed. The highlight of the day will be the release of the ISM Services Index at 16:00, which will have a direct impact on volatility in the EUR/USD exchange rate and major indices such as the S&P 500 and Nasdaq.