Market Overview - Page 93

China’s exports contracted by 0.4% YoY in October, while imports lost 0.7% YoY in dollar terms. The foreign trade surplus rose to $85.7bn, lower than expected at $96bn. Most observers saw these figures as a signal of a slowdown in.

According to the latest BLS report, the US economy created 261K new jobs in October. These figures exceeded the expected 200K. Furthermore, last month’s estimate was significantly improved from 288K to 315K. The labour market thus continues to create jobs.

The market reaction to Powell’s comments on Wednesday has shattered the nice technical picture that has been forming in EURUSD for a month since late September. In this environment, the question of whether the dollar could renew the highs made.

If you want to see how important interest rate expectations are to FX, look at the reaction of the Pound and the Dollar after their central bank meetings. The Bank of England raised rates by 75 points on Thursday, repeating.

In recent months the Fed has repeatedly taken a more hawkish stance than the markets expect. However, the markets’ preparation for yesterday’s meeting and the signal we read in the official commentary were too strikingly different from the markets’ interpretation.

Fresh ADP estimates noted a 239K increase in US employment in October, showing more substantial job growth than in September (192k), contrary to the expected slowdown to 178K. This data primarily guides traders as the most similar indicator before the.

The Reserve Bank of Australia duplicated its move of a month ago by raising the rate by 25 points to 2.85%, in line with economists’ average expectations. This contrasts sharply with a 75-point rate hike from the ECB and expectations.

Gold retreated to $1633 by the start of this month, close to the lows of September and October, but gained about 1% surpassing $1650. We saw a similar buying spree the month before, and such buying activity looks like a.

Eurostat’s preliminary estimate indicated an acceleration of annual inflation in the euro region from 9.9% immediately to 10.7%. Economists, on average, expected no change, and this difference of 0.8 percentage points is one of the most prominent indicators economists predict.

Americans’ Personal spending rose 0.6% in September, the same as a month earlier, while income growth was up 0.4% in each of the two months. Total earnings grew 5.2% YoY, as did earnings, whereas due to a cutback in tax.

Markets will likely remember this week as uncrowning of Techs. On Friday, the failures of Meta, Google, Alphabet and Microsoft were joined by Amazon, whose shares lost more than 20% at one point after the quarterly report. The only bright.

The Dow Jones is up 4.6% in the past five days versus 0.7% for the Nasdaq-100. And this divergence in momentum may continue as long as monetary authorities remain in the regime of containing inflation rather than pushing it up.