European shares jumped 1% on Wednesday, supported by a batch of strong earnings data, and as investors digested news of the first Western sanctions against Russia over its crisis with Ukraine. The pan-European STOXX 600 index rose 1.1 percent after fears of a full-blown Russian invasion of Ukraine pushed it …
Read More »Eurozone Final Inflation Arrives at 0.3% MoM in January
Eurozone’s Inflation came in at 5.1% in January, on a yearly basis, according to Eurostat’s final reading of the Eurozone CPI report for the month. The reading was in line with the estimates of 5.1% and 5.1% previous. Core figures rose by 2.3%, matching the 2.3% consensus forecasts. When compared …
Read More »Market Drivers – European Session 21-2-2022
An OPEC + source told Reuters that the commitment of the producer group to oil production cuts rose to 129 percent in January, noting that some members are still finding it difficult to increase their production. This compares with 122 percent in December and 117 percent in November. The source …
Read More »Eurozone Preliminary Manufacturing PMI Disappoints in Feb
The Eurozone manufacturing sector activity expanded but less than expected in February, the latest manufacturing activity survey from IHS/Markit research showed on Monday. The Eurozone Manufacturing purchasing managers index (PMI) arrived at 58.4 in February vs. 58.7 expectations and 58.7 last. The index hit two-month lows. The bloc’s Services PMI …
Read More »Market Drivers – US Session – 18 February
During Friday’s session, the precious metal consolidated around the $1,886-$1,900 area, amongst exchanges of statements in news media between Russia, Ukraine, and NATO countries, keeping uncertainty around the current situation in Ukraine.Brent crude futures settled 57 cents, or 0.6%, higher at USD 93.54 a barrel, while American WTI crude ended …
Read More »Eurozone Consumer Confidence falls Below expectations
According to the flash estimate of the European Commission’s Eurozone Consumer Confidence survey, the headline index fell to -8.8 in February versus forecasts for a slight rise to -8.0 from -8.5 the month prior of January. The euro did not see any reaction to the slightly weaker than expected Eurozone …
Read More »ECB’s Lane: Eurozone Turned Page On Low Inflation
The ultra-low inflation seen in the euro zone until recently are unlikely to return even after the pandemic is over, the European Central Bank’s chief economist Philip Lane said, citing changes in the global economy among other factors.Lane had dismissed the notion of a new era for inflation until recently …
Read More »Schnabel: ECB Must Considered Prices When Deciding On Tapering
European Central Bank executive board member Isabel Schnabel said on Tuesday, in an interview with the FT, that the bank must consider the “unprecedented” rise in house prices when it comes to assessing inflation and deciding on how fast monetary policy settings should be tightened. The FT framed her comments …
Read More »Market Drivers – European Session 15-2-2022
The headline US Producer Price Index (PPI) rose at an annual pace of 9.7% in January, according to the latest report from the US Bureau of Labor Statistics on Tuesday. MoM, PPI came in at 1.0% in January, well above expectations for a 0.5% MoM gain. Core PPI metrics were …
Read More »Lagarde: ECB Will Act at Right Time But Gradually
European Central Bank President Christine Lagarde repeated that policymakers will not rush to remove stimulus in the Eurozone as she sought to highlight the limits of their powers at a time of volatile prices. ECB President Christine Lagarde delivered, Monday, an introductory statement at European Parliament within the framework of …
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