A look at Monday morning’s market action
Global markets were mixed ahead of inflation data that could pave the way for rate cuts in the United States and Europe, while Wall Street braced for earnings from AI darling Nvidia on Wednesday.
“Our forecast rests on our assumption that the August employment report will be stronger than the July report, but we continue to think that if instead the August report is weaker than we expect, then a 50bp cut would be likely.” Brent crude futures climbed 0.7 per cent to US$79.58 a barrel, while West Texas Intermediate crude futures were at US$75.40 a barrel, up 0.75 per cent.
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