Market Overview - Page 57

The euro was down 0.5%, close to 1.09, on a continuing wave of weak data from Germany and the eurozone, reinforcing expectations of a policy reversal. Wednesday saw weak inflation reports from Germany and Spain. On Thursday, equally weak French.

There is a new batch of weak data from China, whose economy has so far failed to respond meaningfully to government stimulus. Official PMI (Purchasing Managers’ Survey) estimates noted that the manufacturing sector remained in contraction mode in November, while.

The Reserve Bank of New Zealand left its key rate unchanged at 5.5%, the highest in 15 years, but on hold for six months now. The decision was in line with market expectations. However, the NZDUSD rallied, adding over 1.2%.

Financial market volatility has plunged to its lowest level in almost four years, according to the VIX index. This so-called “fear index” fell to 12.45 on Friday, the lowest level since January 2020. Such low levels could be both a.

Worrying news on the Eurozone economy continues to come in, although this is not hurting the single currency so far, which is trading at fifteen-week highs at 1.0950. Germany’s business climate index rose from -28.3 to -27.8 in December but.

The US new home sales report came out weak on several key aspects. Sales fell 5.6% m/m to 679K vs 719K a month earlier (revised from 759K). The median price of a home sold in October was 409.3K, down 3%.

Gold touched six-month highs, moving into territory above $2010 at the start of the new week. Over the past three years, the price has climbed above $2000 several times but failed to hold there for a long. Technically, gold started the week.

German Ifo Business Climate Index rose for the third consecutive month. Still, this recovery is weaker than expected, putting the Euro in a more vulnerable position against the Pound and Canadian Dollar, where the latest data exceeded expectations. Germany’s business.

The last two weeks have been hectic for oil traders, who have had a rich extract of news and data from many directions, fuelling volatility but leaving the price at the same level as a fortnight ago. The fresh weekly.

US Existing Home Sales have continued to fall under the pressure of high interest rates despite prices retreating from their highs. It is well known that the housing market is a leading indicator of the economic cycle. This was the.

Overall inflation slowed from 3.8% to 3.1% y/y in October versus an expected 3.2%. On the other hand, core inflation came in above expectations, ticking up 0.3% y/y in October, albeit lowering the annual rate of increase from 2.8% to.

Palladium is showing signs of recovery after a recent sell-off, which could be a reversal of the metal’s long-term trend. Palladium has lost almost half its value since the start of the year to lows of $936 on the 10th.