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Powell's Dovish Comments Pull Down U.S. Dollar
The U.S. dollar fell against its major counterparts in the New York session on Friday, as the nation's manufacturing activity contracted for the thirteenth consecutive month in November and Federal Reserve Chair Jerome Powell's comments boosted hopes that interest rates have peaked. Data from the In
Treasuries Move Sharply Higher Following Manufacturing Data, Powell Comments
Following the notable pullback seen in the previous session, treasuries showed a substantial move back to the upside during trading on Friday. Bond prices jumped early in the trading day and continued to advance as the session progressed. As a result, the yield on the benchmark ten-year note, which
European Stocks Close On Bright Note On Encouraging Economic Data
European stocks closed on a bright note on Friday, buoyed by easing inflation in the U.S. and Eurozone, encouraging manufacturing data from the Eurozone and the U.S., and better-than-expected manufacturing activity report from China. Continued optimism the Federal Reserve will begin reducing interes
UK Manufacturing Downturn Eases In November
The downturn in British manufacturing activity softened in November as output and new orders fell at slower rates, survey results from S&P Global revealed Friday. The Chartered Institute of Procurement & Supply Manufacturing Purchasing Managers' Index, or PMI, rose to a seven-month high of 4
Sensex Ends Above 67,400; Nifty Hits Record High
Indian shares rose notably on Friday as strong GDP data for the September quarter as well as encouraging core sector output figures for October raised optimism about India's growth story. Signs of revived FPI inflows, favorable exit poll results for assembly elections in five states and firm cues fr
Wall Street Might Be Broadly Down At Open, Investors To Focus On Fed Chair Comments
Fed Chair Jerome Powell's speeches and interactions today might get special attention. Investors are eagerly watching for signals of interest rate changes. Among the economic announcements, the U.S. manufacturing activity reports might be notable. Gold is trending up, while Oil prices are sliding, a
Irish Economy Shrinks 1.9% In Q3, More Than Estimated
Ireland's economy contracted slightly more than initially estimated in the third quarter, the latest data from the statistical office CSO showed on Friday. Gross domestic product fell a seasonally adjusted 1.9 percent sequentially in the September quarter, in contrast to a 0.4 percent decrease in th
Italy's GDP Revised Higher To 0.1% In Q3
The Italian economy rebounded somewhat in the third quarter, revised from the flat change estimated initially, the latest data from the statistical office ISTAT showed on Friday. Gross domestic product rose 0.1 percent sequentially in the third quarter, in contrast to the 0.4 percent decrease in the
Irish Manufacturing Activity Stabilizes In November
Ireland's manufacturing activity signaled a stabilization in November amid rises in output, new orders, and employment, survey results from S&P Global showed on Friday. The headline AIB Manufacturing Purchasing Managers' Index posted 50.0 in November, up from 48.2 in October. A score above 50 in
Canadian Dollar Rises Amid Risk Appetite
The Canadian dollar strengthened against other major currencies in the European session on Friday amid risk appetite, as signs of easing inflation in the U.S. and the euro zone raised optimism over possible interest rate cuts earlier next year. Speculations rose that the U.S. Federal Reserve will st
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More USD softness ahead in the next few weeks and perhaps beyond – Scotiabank
Share: The USD is ending the week and starting the month somewhat on the defensive versus most major currencies. Economists at Scotiabank analyze Dollar’s outlook. Relatively light data schedule ahead of the weekend for US markets Despite Thursday’s recovery in the USD, headwinds – lower yields spec
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EUR and GBP to underperform in 2024 – ING
Share: Economists at ING do not expect European currencies to lead the pack of appreciation against the US Dollar. European currencies set to lag We think the Dollar story will be enough to drag EUR/USD higher through 2024 – 1.15 is our year-end target – but the moves should be relatively modest. EU
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European Shares Gain As Manufacturing PMI Improves
European stocks traded higher on Friday, with miners leading the surge on improved manufacturing data from China. Encouraging Eurozone manufacturing and U.K. house price data also boosted sentiment ahead of ISM manufacturing PMI readings from the U.S. as well as Fed Chair Jerome Powell's speech due
FTSE 100 Climbs Led By Miners
U.K. stocks traded higher on Friday, with miners leading the surge on improved manufacturing data from China. Encouraging U.K. house price data also boosted sentiment. U.K. house prices rose by 0.2 percent in November, marking the third successive monthly increase, the latest Nationwide house price
Pull-up Update
