As measured by the Consumer Price Index (CPI), annual inflation in Germany climbed to 10.4% in October from 10% in September, Germany’s Destatis reported on Friday. This reading came in higher than the market expectation of 10.1%. Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) …
Read More »Yen falls after Bank of Japan sticks to monetary easing, dollar rises
The yen fell on Friday as the Bank of Japan stuck to its accommodative policy, while the dollar attempted to recover from losses at the weekend on expectations that the Federal Reserve would signal a slowdown in interest rate hikes. The dollar was last up 0.8 percent against the yen …
Read More »The Japanese government approves a spending package to ease the impact of inflation
The Japanese government on Friday unveiled a new stimulus spending package worth 39 trillion yen ($265 billion) that it said would boost gross domestic product by about 4.6 percent. The government said it would provide an additional budget for the current fiscal year of 29.6 trillion yen to fund the …
Read More »Nikkei declines, affected by Wall Street and corporate profits, but maintains its weekly gains
Japan’s Nikkei fell on Friday, as weak Wall Street and some weak results from local companies weighed on sentiment, although the benchmark index maintained its first weekly gain in three weeks. The Nikkei fell 0.88 percent to 27,105.30 points, but remained significantly higher than the important 27,000 points barrier. The …
Read More »European shares fall on weak commodities, mixed corporate earnings
European shares fell on Friday, dragged down by weak commodity prices and mixed corporate earnings, as investors weighed the path to tighten monetary policy amid a slowdown in economic growth. The pan-European STOXX 600 index fell 0.9 percent by 0719 GMT; miners led losses with commodity prices tumbling amid concerns …
Read More »Gold is locked in a narrow range as investors await the path of Fed
Gold prices settled in a narrow range on Friday after caution prevailed ahead of next week’s much-watched Federal Reserve meeting for any signs of a slowing in interest rate hikes. Gold prices did not witness little change in spot transactions and amounted to $ 1663.62 an ounce by 0521 GMT, …
Read More »Market Drivers – US Session 27/10/2022
The American dollar restores its previous weak tone, as US Treasury yields edged sharply lower following the release of the preliminary estimate of the Q3 Gross Domestic Product. Important events are streaming on the macroeconomic calendar having less impact than anticipated, despite bringing about some new developments. Wall Street got …
Read More »Euro sinks after ECB rate decision, US data
Euro sinks after ECB rate hike, US dataThe euro dropped more than 1% on Thursday, falling back below parity with the dollar, after the European Central Bank raised interest rates and following Thursday’s US data showing that the world’s biggest economy rebounded more than expected in the third quarter.The ECB …
Read More »Dow Jones closes higher on GDP report
The Dow Jones Industrial Average closed higher, on Thursday, following new data showed third-quarter GDP grew faster than expected and hinted at waning inflation, encouraging investors to buy stocks linked to the health of the economy.The Dow climbed 194.17 points, or 0.6%, to end at 32,033.28 for its fifth day …
Read More »Gold Under Pressure On US Dollar’s Correction
Gold prices are under pressure. The precious metal is actually forced back into the neutral zone on the daily chart. The hourly charts show that the price is balanced at a critical stage. Investors are eying Friday’s PCE and next week’s Fed. The price of gold has been pressured on …
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