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What to watch

MARKET INSIGHT
  • With little in terms of tier one data or speakers today, markets will continue to look forward to tomorrow's FOMC policy announcement while there are a number of political / legal issues that the market will watch with one eye today. Note: for the full MNI Fed preview click here.
  • EU energy ministers will meet today to discuss the plan to cut gas consumption by 15% to reduce reliance upon Russian imports. As our Commodity team has noted, there is not universal support for this and the proposals are likely to be watered down - the degree to which will be closely watched.
  • This afternoon will see the IMF release its updated WEO - very unlikely to be market moving but generally worthy of a few headlines and some market talking points.
  • In terms of other data today we have CBI data in the UK, US housing data as well as Conference Board consumer confidence data in the US.

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