Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.
Traders and investors today are awaiting the morning remarks from Federal Reserve Chairman Jerome Powell, who will be speaking at a Riksbank conference in Sweden. Despite a"Goldilocks" U.S. jobs report last Friday, Fed officials' remarks since then are still leaning hawkish on U.S. monetary policy and a"higher for longer" interest rate scenario.
Risk appetite in the general marketplace has improved a bit this week as China has been opening up its businesses and its borders in a pivot from its strict Covid restrictions. U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and chain store sales reports, the NFIB small business index, the IDB/TIPP economic optimism index and monthly wholesale trade.
Source: Financial Digest (financialdigest.net)
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