Stock markets have notched up some decent gains in recent weeks as the economic outlook appears to have improved dramatically on the back of China's economic reopening after strict Covid-19 lockdowns and energy prices continue to abate.It had previously forecast that up to a third of the global economy could be in recession this year.
"Even some of the inflation data is coming in slightly better than expected. The expectation is that we could see interest rates cuts coming at the back half of the year. There is a potential between central banks and markets coming," he explained. We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.Manage Preferences
Edward Moya, Senior Market Analyst for The Americas with OANDA, said traders were keeping a close eye on earnings as well as US growth and consumer spending data in the US.