Asian Indices: Australia’s ASX 200 index rose by 193 points (2.77%) and currently trades at 7,157.00 Japan’s Nikkei 225 index has risen by 786.27 points (2.86%) and currently trades at 28,232.37 Hong Kong’s Hang Seng Read more…
The US headline inflation fell to 7.7% in October, versus 8.0% expected by analysts and from 8.2% printed a month earlier. It is a fairly nice easing. And more importantly, core inflation fell more than Read more…
Market movers today The European Commission will publish its autumn forecasts for the European countries today. We will look for the fiscal projections into next year. Today also brings UK GDP growth for Q3 which Read more…
UK GDP contracted -0.6% mom in September, worse than expectation of -0.4% mom. Services dropped -0.8% mom. Production grew 0.2% mom while construction rose 0.4% mom. GDP was then -0.2% below its pre-coronavirus levels in Read more…
Daily Pivots: (S1) 138.58; (P) 142.59; (R1) 144.96; More… USD/JPY’s correction from 151.93 is in progress and intraday bias stays on the downside. Next target is 161.8% projection of 151.93 to 145.53 from 146.78 at Read more…
Dollar is overwhelmingly the worst performer for the week, after yesterday’s post-CPI selloff. Yen is the strongest one, with help from the steep decline in US yields too. European majors follow as next strongest, with Read more…
SNB board member Andrea Maechler said an in interview, “it is not out of the question that, based on new figures and developments, further rate hikes may be necessary to ensure price stability in the medium Read more…
BoC Governor Tiff Macklem said yesterday, “We need to rebalance the labour market… This will be a difficult adjustment. We want to do this in the best way possible for Canadian workers and businesses.” “The Read more…
Kansas City Fed President Esther George said yesterday, “I continue to see several advantages for a steady and deliberate approach to raising the policy rate.” “Without question, monetary policy must respond decisively to high inflation Read more…
Cleveland Fed President Loretta Mester yesterday’s October CPI report “suggests some easing in overall and core inflation.” However, “there continue to be some upside risks to the inflation forecast.” She expects to see a “meaningful” Read more…