Still, the main highlight for the week remains the Federal Reserve’s two-day policy meeting ending Wednesday, where all eyes will be on what Fed Chair Jerome Powell says with regard to the central bank’s rate outlook.
Much has changed since its last meeting in March, and a hawkish tone from Powell is pretty much a given with the slew of solid economic data the U.S. has had in recent times.
While market pricing shows that a September rate cut is still on the cards, even that is gradually starting to pare back, based on the CME FedWatch tool.
In the world of electric vehicles, Tesla (TSLA.O), opens new tab CEO Elon Musk arrived in Beijing on Sunday on an unannounced visit, where he was expected to discuss the rollout of Full Self-Driving software and permission to transfer data overseas.
His visit came just over a week after he scrapped a planned trip to India, raising concerns that its expansion plans in the South Asian country may be put on hold.