Rates cuts seem to be getting closer. And then again, not really. While many were expected earlier in the year, now we only expect a few. But the real story may be whether the ECB will cut before the Fed?

As the foregone week was all about US inflation and ECB members discussing exactly that, and the coming week is packed with speakers from both Fed and ECB, that is what this episode will be about.

In today's macro episode, Peter Garnry is filling in for Charu Chanana. Søren Otto is the host.

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

Click here to open an account with Saxo.