EU session points: Investors awaits Central banks, UK politics in focus
- The dollar index was flat on Tuesday, hovering close to last Friday's low amid bets on less hawkish Fed and firmer sterling after Rishi Sunak has become Britain's prime minister. 10-year Treasury yields are down by 2.7 bps to 4.205% and that is keeping broader market sentiment in a better spot for now
- Sterling see-sawed after Sunak, the country's former chancellor, was appointed leader of Britain's Conservative Party, clearing the way for him to become the next prime minister. Sterling was last down 0.16% at $1.12915, off an overnight high above $1.14. The euro was last up 0.18% at $0.98805
- Oil prices rose on Tuesday as the U.S. dollar eased against major peers but gains were limited by worries of slowing global fuel demand growth amid bearish economic data from key oil importing economies such as China. West Texas Intermediate crude futures for December delivery rose to $84.94 per barrel, after a previous decline of 0.6%.
- All eyes are on key central bank meetings in the coming two weeks and that will keep markets preoccupied in trying to anticipate and work out the big picture narrative
