Market Prognosis

A concise summary of the major macro events of the past 24 hours, and selected UK company-specific news.

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October 23, 2023

Land invasion on hold

Macro & Overnight

Fears expressed by financial markets last week have subsided as we start the new. Oil prices, bond yields and the dollar have all stabilised at their recently elevated levels.

Diplomatic efforts to release more hostages are delaying the start of the land war in Gaza, but tensions remain high as it remains a case of when, not if, Israeli forces move.

We get UK unemployment numbers and US PMI data tomorrow. US oil inventory data and Fed Powell speaks on Wednesday. The ECB interest rate decision and US GDP data are on Thursday. US core PCE price index data, the fed’s favourite measure of inflation, is on Friday.



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