Dollar is trading on the back foot today as markets add to bets on a December Fed rate cut, extending the repricing that began late last week. The shift was triggered by New York Fed President John Williams, who surprised markets last Friday by saying he sees room for a further “near-term adjustment,” reversing the […]
German business confidence weakened in November as companies turned more pessimistic about outlook despite unprecedented fiscal policy U-turn, results of a closely watched survey by the ifo institute showed on Monday. The business climate index fell to 88.1 in November from 88.4 in October. The reading was expected to rise to 88.6. Companies assessed their
Global markets closed last week on an uncertain footing. While bears appeared to have an upper hand, the control was never firmly gripped. Conviction was relatively thin as traders were reluctant to commit decisively. The overall impression was of markets still searching for a coherent theme to latch onto. Equities in major centers reflected the
Germany’s private sector growth softened in November with slower increases in both services and manufacturing, flash purchasing managers’ survey results from S&P Global showed on Friday. The composite output index slid more-than-expected to 52.1 in November from a 29-month high of 53.9 a month ago. The result reflected slower rates of growth in both manufacturing
Sterling fell mildly across the board today as weak UK labor market data reinforced expectations that the BoE would deliver a rate cut in December. Yet, as seen in comments from MPC member Megan Greene, not all policymakers are convinced, leaving December’s decision finely balanced. The data comes just days after a closely divided 5–4
Optimism dominated Asian markets on Monday, with Japan’s Nikkei 225 surging to a fresh record high above the 50,000 mark. The risk-on tone carried through to U.S. futures, which pointed to another higher open as Wall Street looks set to continue its record-breaking run. In contrast, European markets lagged behind, trading mostly flat as regional
Global markets ended the week with an uneasy calm, masking what appears to be growing stress beneath the surface. Wall Street showed resilience — the major indexes finished higher after mid-week volatility sparked by renewed concerns over regional bank stability. Yet in Europe, sentiment was more fragile, as bank-led declines weighed on both the FTSE
Global markets turned sharply defensive today as renewed U.S.–China trade tensions reignited fears of broader economic disruption. Equities fell across Asia and Europe, while safe-haven demand lifted Yen and Dollar. The latest flashpoint emerged at sea, where both countries introduced new port charges on ocean shipping firms, adding a fresh dimension to the ongoing trade
Germany economic sentiment rose moderately in October as investors still hope for an economic upturn, a monthly survey conducted by the think tank ZEW showed Tuesday. The economic confidence index rose to 39.3 in October from 37.3 in the previous month, though it fell short of the forecast of 41.2. However, assessment of the current
Germany’s wholesale price inflation accelerated in September, data from Destatis showed on Monday. Wholesale selling prices increased 1.2 percent year-on-year in September. This followed a 0.7 percent rise in August and a 0.5 percent increase in July. On a monthly basis, wholesale prices moved up 0.2 percent, in contrast to the 0.6 percent decrease in
Germany’s consumer price inflation accelerated for a second straight month in September and at a faster than expected pace to reach its highest level in nine months, and the EU measure also followed a similar trend to hit its strongest level since February, adding to the troubles of a sluggish economy and could raise concern
German consumer confidence is set to improve slightly in October halting its downward trend as income expectations strengthened, a closely watched survey data showed Thursday. The forward-looking consumer confidence index rose to -22.3 in October from revised -23.5 in the previous month. The reading was seen at -23.3. While income expectations improved in September, economic
The Organisation for Economic Co-operation and Development said in a report on Tuesday that the full impact of the massive hike in trade tariffs announced by the U.S. is yet to be felt though early effects are becoming increasingly evident. In the interim outlook report, the Paris-based think tank raised the global growth forecast to
The forex markets remained largely directionless today, with consolidative trading dominating across major pairs. Price action was muted, and the release of PMI data failed to provide much impetus, with investors largely shrugging off the surveys. Eurozone PMIs offered a mixed picture. Germany showed a promising improvement, but sluggish readings in France offset the optimism.
German economic confidence improved in September but financial market experts remained cautiously optimistic, a monthly survey conducted by the think tank ZEW showed on Tuesday. The ZEW indicator of economic confidence rose unexpectedly to 37.3 in September from 34.7 in the previous month. The score was expected to fall to 27.3. However, the assessment of
Germany’s industrial output expanded for the first time in four months in July, figures from Destatis showed on Monday. Industrial production rose 1.3 percent month-on-month in July, reversing June’s stable decrease of 0.1 percent. The recovery in July was mainly driven by a 9.5 percent growth in the manufacture of machinery and equipment. An 8.5
Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term. The consumer price index rose 2.2 percent year-on-year following a 2.0 percent
