STARTRADER Market Recap | 26-July-2023

Consumer confidence reached its highest level in two years in July, according to a recent survey. Despite concerns about a possible recession, there is continued optimism regarding the job market.

However, the focus is now shifting to major central bank meetings scheduled for this week. Today, Wednesday, the Federal Reserve will announce its monetary policy decision, followed by the European Central Bank on Thursday, and the Bank of Japan on Friday.

Market expectations are leaning towards a 25-basis point interest rate hike from both the US and European banks. Investors will closely watch for any hints or insights from policymakers, especially from Federal Reserve Chairman Jerome Powell.