A look at the day ahead in European and global markets from Anshuman Daga:
The strong start to equity markets this year has got bulls excited but markets know it's better to be well behaved before Federal Reserve Chair Jerome Powell speaks.geared up for a return of Chinese tourists after the country's borders reopened on Monday.
European futures indicate a weaker open for stocks, which are basking at eight-month highs on growing hopes that the euro zone will only get a shallow recession, overcoming worries of a sharp slowdown.Later on Tuesday, Fed boss Powell is set to make a speech that could give further clarity on the pace of rate hikes while U.S. inflation data out on Thursday will further cement expectations.
While money markets are pricing in a 25% chance of a half-point U.S. rate hike in February, down from around 50% a month ago, inflation data and Fed speakers will dictate market action.exceeded the central bank's 2% target for a seventh straight month in a sign of broadening inflationary pressure.Meanwhile, the French need to prepare to work longer than they do now.
U.S. speakers: Federal Reserve Chair Jerome Powell participates in a panel discussion before the Sveriges Riksbank International Symposium on Central Bank Independence.
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