The German manufacturing sector expanded in October, the preliminary manufacturing activity report from IHS/Markit research showed this Friday. The Manufacturing PMI in Eurozone’s no.1 economy came in at 58.2 this month vs. 56.5 expected and 58.4 previous. The index reached its lowest in nine months. Services PMI dropped to six-month …
Read More »Market Drivers – U. S. Session 21-10-2021
From Europe to the United States, market drivers ranged from unemployment, inflation-related concerns, earnings and alarming losses to inventories of energy, particularly natural gas. The USD managed to stop its Wednesday’s downtrend to advance anew on Thursday. Risk turned off on Thursday leading the USD to reap the most …
Read More »Higher earnings continue to make the trend and impact markets
Corporate earnings for Q3 continue to impact the performance of financial markets as well as the reactions of investors and traders. Higher than expected earnings have become the common trend on the market scene, this October, despite supply chain difficulties and cost issues.TeslaTesla posted Q3 profits that topped expectations, with …
Read More »NZ unveils traffic light system with 90% vaccination target
“Vaccinations are our armor,” said New Zealand Prime Minister Jacinda Ardern while revealing the new governmental measures to battle the coronavirus during Friday morning in Asia.“In a suite of announcements that establish a pathway out of restrictions the NZ government is also providing up to $940 million per fortnight to …
Read More »Lowe: Wages key to Australia’s inflation prospects
“The RBA is closely watching a spike in inflation,” said the Reserve Bank of Australia Governor Philip Lowe while speaking before a conference hosted by the Universidad de Chile on early Friday morning.The policymaker has added that he did not think the rise would be sustained unless it led to …
Read More »Evergrande’s Make or Break Weekend
The giant Chinese real estate developer has become cash-strapped and now risks default if it fails to pay its gross debt.After Evergrande’s efforts to sell its stake of 50 per cent of EPS to rival Hopson Development had collapsed, depriving it of valuable cash to ease the pressure on its …
Read More »GBP/USD reaches fresh monthly lows at 1.3776
The US Dollar is firmly up on Thursday over the back of inflation-related concerns in addition to the decline of U. S. Initial Jobless Claims for the second week, at 290K. Meanwhile, the British pound has extended its slide below 1.3800 during the New York session, with losses at 0.26%, …
Read More »USD ready to resume advance
Risk turned off on Thursday leading the USD to reap the most out of it. The dollar weaker yesterday, but it managed to appreciate against most major rivals, except safe-haven CHF and JPY.There was no certain catalyst behind the retreating risk appetite although inflation-related concerns constitute one part of the …
Read More »Weidmann’s successor difficult test ahead German economy
Bundesbank president Jens Weidmann has thrown an additional wild card on the negotiation table for Germany’s economy after Merkel’s last term in office.After 10 years opposing the ECB’s loose fiscal policy,the German economist announced his departure on Wednesday for personal reasons. Last month’s election pushed has pushed Dr Weidmann out …
Read More »Treasury yields climb over jobless data
Treasury yields were slightly higher Thursday as U.S. weekly jobless benefit claims fell with a reading of initial jobless claims for the week ended Oct. 16 which dropped by 6,000 to pandemic low of 290,000.Yields were drifting higher as weekly jobless claims showed companies shying away from layoffs amid the …
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