Market Overview - Page 68

The Fed’s dovish attitude, for now, hasn’t extended too far into Europe. The Bank of England kept its key rate unchanged at 5.25%, with three of the nine members voting in favour of a quarter-point hike. In a commentary on.

The Fed expectedly kept the key rate at the highest level in 22 years in the 5.25%-5.50% range but kicked off a powerful rally in equities and dollar sell-off with a dramatic change in rhetoric. Despite the tight monetary conditions,.

US producer prices came out weaker than expected, increasing speculation that the Fed may soon turn to policy easing, causing pressure on the dollar.  The overall and core producer price indices showed zero change for November and slowed from 1.2%.

Fresh business sentiment assessments from ZEW saw the sentiment index rise from 9.8 to 12.8, a positive surprise for analysts who had anticipated a slight decline to 9.6. The current optimism level is the highest since March this year but.

The UK labour market is cooling, showing an increase in claims from claimants. In addition, wage growth is slowing. The data provided further evidence that the UK economy has moved into a new phase of the economic cycle, although the.

Consumer prices in China accelerated their decline in November, losing 0.5% yoy vs. 0.2% yoy expected and the same amount a month earlier. Producer prices also intensified their decline, losing 3.0% y/y vs -2.6% previously and a softer-than-expected -2.8%. PPI.

The Japanese yen was the hero of the day on Thursday, adding over 1.7% against the dollar and 1.6% against the euro since the start of the day. The yen has been sided by Japan’s regional banks, which are rumoured.

ADP reported a 103k increase in new private sector jobs in the US, against expectations of 130k and 106k (revised from 113k) a month earlier. This indicator was designed as the last insight on the jobs market before the official.

The Dow Jones index has switched into consolidation mode, joining the S&P500 and Nasdaq100, which did so almost two and three weeks ago, respectively. This could be consolidation before a spurt to new highs, but it’s more likely that we’re.

There were more signs of a cooling US labour market ahead of Friday’s employment report. The number of open job vacancies in October fell to 8.733 million from 9.35 million a month earlier and 9.31 million expected. With occasional bounces, the.

Oil remains under pressure, reflecting fears of demand cuts, despite verbal interventions by OPEC+ and US government officials over the past week to shift the balance in favour of a deficit. Last week, the expanded OPEC+ agreed a production cut.

The American dollar is fighting hard for the trend. For the last three trading sessions, the dollar index has been crossing up and down the 200-day moving average every day. All in all, the flirting with this level has been.