Market Recap for 9-May-2024
Oil prices were higher on Thursday, having bounced off two-month lows in the previous session.
Bank of Japan (BOJ) appears to be hinting at the next rate hike, potentially in June or July, with final wage negotiations results on the horizon.
Market focus will soon swing to the April U.S. producer price index (PPI) and the consumer price index (CPI) out next week, which traders will watch for signs that inflation has resumed its downward trend toward the Fed’s 2% target rate.
The Bank of England (BOE) is likely to take another step towards its first interest rate cut in four years as inflation falls.
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