Market Pulse - Currencies
Liberum hikes target for Alpha FX, says estimates 'conservative'
Analysts at Liberum hiked their target price on shares of Alpha FX after the currency management specialist reported a more than tripling in profits at the half-year stage.
ISM manufacturing PMI improves unexpectedly in August
Activity in American manufacturing accelerated unexpectedly last month, the results of perhaps the most closely-followed survey for the sector revealed.
US jobs growth slows sharply as Delta rolls across country
Hiring in the US slowed sharply last month as the Delta variant of Covid-19 rolled across the country, particularly in the Southeast.
ECB to slow PEPP purchases 'moderately'
Rate-setters in Frankfurt decided to lower bond purchases under their emergency asset buying programme "moderately" but kept all the other main policy levers unchanged, including the size of the bond buying programme not linked to the pandemic.
US producer prices pushed higher by food and transportation
US wholesale prices rose as expected last month amid higher prices for food and transportation.
US and Chinese presidents hold first direct contact since February
The US and Chinese presidents held their first direct conversations since February overnight on Thursday.
ECB's Schnabel highlights impact of 'base effects' on CPI rise
A top European Central Bank official said the monetary authority did not believe rapidly rising consumer prices were a risk, emphasising that the "extremely" low level of inflation seen in 2020 needed to be taken into account.
US core CPI slows more quickly than expected in August
Consumer level inflation in the US slowed more quickly than expected last month as the Delta variant of Covid-19 took its toll on travel-related sectors, including airlines and hotels.
Asia close: Macau casino stocks hammered, but investors shrug off weak China data
Shares in the Asia Pacific region were for the most part only a bit lower overnight, despite the release of weaker-than-expected activity data in the People's Republic of China, but Hong Kong-listed casino shares were hammered.
Empire State index bounds past forecasts in September
Manufacturing activity in the jurisdiction of the Federal Reserve Bank of New York surged in September, according to the results of a closely-followed survey.
US industrial production edges past forecasts in August
Industrial production in the US edged pasts forecasts last month on the back of higher output from factories and utilities.
Weekly US jobless claims surprise to the upside
Initial US jobless claims rose unexpectedly during the previous week.
US retail sales jump past forecasts in August
American consumers retrenched less than feared last month despite the impact from the Delta variant of Covid-19.
Manufacturing in US Northeast dodges Delta impact in September, Philly Fed says
Manufacturing conditions in the US mid-Atlantic region exceeded forecasts by a wide margin in September, the results of a closely-followed survey revealed.
Sunday newspaper round-up: Melrose Industries, Rolls Royce, Flutter Entertainment
The boss of one of Britain’s major engineering groups has urged ministers not to intervene in a flurry of US takeovers of British companies, saying the UK must protect its reputation as an open, trading economy. Simon Peckham, chief executive of the FTSE 100 giant Melrose Industries, said that rather than fretting over British corporate gems being owned by foreign buyers, the UK should be encouraging home-grown firms to buy up companies abroad. - Sunday Times.
US consumer confidence stabilises at the start of September
Consumer confidence in the US appeared to stabilise at the start of September after plunging during the month before as the Delta variant of Covid-19 rolled across the country, the results of a closely-followed survey revealed.
Euro area unemployment continues to fall in August
Unemployment in the single currency bloc dipped last month led by declines among the so-called periphery countries.
China PMIs yield mixed readings in September
A batch of key surveys for Chinese economic activity in September yielded mixed readings, although economists said that overall they appeared to indicate that further weakness may lie ahead.
Push for 'net zero' emissions could have significant impact on inflation, Capital Economics says
The global push towards "net-zero" emissions could have significant implications for the inflation outlook depending on how quickly those changes are implemented, economists said.
US Treasuries matter more for German Bunds than election result (for now), Saxo says
Until a government coalition is formed, German Bunds are more vulnerable to rising yields in the U. S. than the German election, says Steen Jakobsen, chief investment officer of Saxo Bank.