Breaking Economic News
Fed´s Kaplan says Fed will take the time that is necessary to evaluate situation
The US central bank needs more time to assess the implications of recent volatility in global financial markets on the US economy, a high-ranking official said.
S&P downgrades Azerbaijan´s sovereign debt to 'junk'
Ratings agency Standard&Poor´s on Friday downgraded its rating on oil-producing Azerbaijan´s long-term sovereign debt to 'junk'.
Chicago PMI surges past expectations in January
The Chicago Purchasing Managers’ index rose to 55. 6 in January from 42. 9 the previous month.
US growth slows in the fourth quarter
US gross domestic product growth slowed sharply in the fourth quarter to an annualised rate of 0. 7% from 2% in the third, preliminary data from the Commerce Department showed.
Meeting between OPEC and countries outside cartel should be at expert level, delegate says
A hypothetical meeting between the Organisation for Petroleum Exporting Countries and nations from outside the cartel should be at the expert level, not ministerial, and would take place in February or March, if at all, a report citing Reuters said.
UK consumer spirits buoyed in January by oil price drop, low unemployment, GfK says
Consumer spirits in the UK were near their best levels ever in January, as the plummeting price of crude oil, very low unemployment and rising house prices more than offset the depressing influence of the retreat in share prices, economists said.
Oil higher amid contradictory reports on possible output cuts
Oil futures registered sharp gains amid contradictory reports regarding possible plans to reduce oil output by the Organisation for Petroleum Exporting Countries, in coordination with producing nations from outside the cartel, mainly Russia.
UK economic growth improves in fourth quarter, ONS reveals
The UK economic growth picked up slightly in last three months of the year compared to the previous quarter, data revealed on Thursday.
US Federal Reserve keeps rates on hold, watching global developments
The US central bank kept its main policy rates unchanged, as had been widely anticipated, with most pundits initially taking the view that the door to an interest rate hike come March, when its policy committee was next scheduled to meet, had been left open. Remember: The last time we saw #EURUSD pop up so hard was at the December FOMC meeting. signalled the top too #forex — Ashraf Laidi (@alaidi) January 27, 2016.
Saudi Arabia approaches Russia about oil output cuts, report claims
Saudi Arabia approached the Russian Federation about possible oil output cuts within the framework of the Organisation for Petroleum Exporting Countries, Transneft chief Nikolai Tokarev said on Wednesday, according to a report from TASS.
Osborne picks Andrew Bailey as new FCA chief executive
Andrew Bailey, deputy governor of the Bank of England, has been appointed by George Osborne as the new chief executive of the Financial Conduct Authority, though the Treasury Select Committee has suggested it be given a veto in future.
ECB´s Draghi defends track record, calls for action on fiscal policy, reforms
Speaking at Deutsche Boerse´s New Year´s reception European Central Bank president Mario Draghi defended the efficacy of the ECB´s asset purchase programme, chastised critics of the bank´s policies and called for concerted action on fiscal policies, structural reforms and reducing the debt overhang.
First tube strike called off by RMT
Tuesday's 24 hour tube strike has been called off by the National Union of Rail, Maritime and Transport Workers (RMT).
Union calls off London Underground strike
The RMT union has suspended a planned 24-hour strike on the London Underground that was due to go ahead on Tuesday, but said it remained in dispute with Transport for London over pay, plans to introduce Night Tube and station staffing.
Manufacturers´ order books show signs of stabilising in January, CBI says
Factory output and new orders in the UK showed signs of stabilisation at the start of the year, but there continued to be few signs of improvement in the export outlook, according to the results of a widely-followed survey.
UK retail sales fall sharply in January
Consumers in Britain pulled back on spending at the end of 2015 by far more than analysts had expected.
Market overview: Pearson bounces on large volumes, charts still weak
1630:Close Dovish remarks from ECB president Mario Draghi put a bid into equity markets, although some traders had already been anticipating a bounce after Wednesday’s carnage. Pearson led the bounce on a spike in trading volumes, although the price charts still had an extraordinarily weak look to them on a medium-term basis. Commodity stocks paced gains on both the Footsie and the FTSE 250. To take note of, remarks from top Chinese officials that yuan weakness was not in the best interests of the Asian giant.
ECB keeps key rates unchanged, as expected
The European Central Bank on Thursday decided to keep its key rates unchanged, as expected by analysts.
Market overview: Carney talking the pound lower?
1630:Close Randgold Resources did best on Wednesday, a not unlikely outcome given the Footsie’s skid lower into bear-market territory. At the bottom of the pile were oil and commodity stocks as West Texas Intermediate crude oil futures threatened to lose the $26 mark. In global capital markets more generally, the focus shifted towards the Hong Kong dollar, amid worries – and fresh estimates – about the scale of capital flight out of China. Do the policy-makers meeting in Davos know what they are doing? Exactly? One outspoken veteran ex-trader appeared to harbour his doubts.
US inflation rises less than expected in December
The US consumer price index rose 0. 7% in the year to December, according to the Bureau of Labor Statistics on Wednesday.