Economic events: Flash PMIs for Germany, France, UK and Eurozone <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ SP 500 2023 YTD THROUGH FEBRUARY 17 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ankur Banerjee; Editing by Sam Holmes)
Twitter: @AnkurBanerjee17;)) A look at the day ahead in European and global markets from
Ankur Banerjee:
After a sputtering start to the week for the equities
market, flash PMI data from Eurozone, UK and Germany will likely
give some sort of direction for traders. Investors have put on
their risk-off hats so far, with the dollar ascendant on
Tuesday, having erased its year to date losses and as Asian
equities flirt with six-week lows.
With U.S. markets set to reopen after Monday's holiday,
investor focus will be squarely on minutes from the Feb. 1
Federal Reserve meeting, scheduled to be released on Wednesday.
At that meeting, the central bank raised interest rates by
25 basis points and said disinflation was underway. Resilient
economic data for the past month has brought back investor fears
that the Fed will have to hike more and stay higher for longer.
Minutes from the Reserve Bank of Australia's policy meeting
in February showed the board abandoned all thought of pausing
rate hikes in the face of sticky inflation and signalled more
hikes would be needed in the months ahead.
Meanwhile, Russian President Vladimir Putin was due to make
a speech on Tuesday setting out aims for the second year of his
invasion of Ukraine. It comes just a day after U.S. President
Joe Biden's surprise visit to Ukraine where he walked the
streets of Kyiv and promised to stand with Ukraine as long as it
takes.
In the corporate world, global miner BHP Group reported a dour first half earnings but pinned hopes on a
rebound in demand from China, its biggest customer.
Europe's largest bank HSBC Holdings unveiled plans
for a special dividend and share buybacks as rising interest
rates swelled net interest income.
Earnings from Walmart later in the day will shed
light on American consumers' buying habits in the face of rising
expenses.
Key developments that could influence markets on Tuesday:
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