Market Pulse - Currencies
Inflation concerns cap gains in US consumer confidence, University of Michigan says
Consumer confidence in the US continued to languish near the lows hit immediately following the start of the Covid-19 pandemic, as higher inflation and lower confidence in government's economic policies offset the effects of stronger income expectations and receding coronavirus infections, the results of a closely-followed survey revealed.
Americans continue splashing out more quickly than expected in September
Personal income growth in the US surprised sharply to the downside last month, yet Americans continued splashing out more quickly than expected.
Euro area CPI shoots past forecasts in October, energy main culprit
The cost of living in the Eurozone jumped past economists' forecasts in October on the back of nearly across-the-board gains in prices.
US activist investor calls for break up of Royal Dutch Shell
Activist US investor Daniel Loeb called for the breakup of Royal Dutch Shell.
Asia close: Stocks buoyed by record highs on Wall Street, Chinese names dragged lower by talk of property taxes
It was a mostly risk-on session for Asia Pacific stocks on Tuesday, with investor sentiment buoyed by fresh record highs overnight for the Dow Jones Industrials and S&P 500.
Small business confidence drops amid inflation and tax hikes
The Federation of Small Businesses warned the Chancellor that concerns about inflation and high taxes had already led some companies to cut back on their hiring and investment plans.
Euro area business activity hits six-month low, IHS Markit says
Economic activity in the single currency bloc got off to a slow start in the fourth quarter, amid increasing supply bottlenecks and ongoing Covid-19 worries, the results of a closely-followed survey revealed.
US housing starts and permits not as weak as they look, economists say
Homebuilders in the US broke ground on fewer homes last month, although weakness was centred on the multi-family segment.
BoE's Bailey, Saunders express concern over rising inflation
The head of the Bank of England called for further investment in infrastructure in the UK and said Bank was going to have a very "challenging job" on its hands when it came to dealing with inflation.
US September non-farm payrolls surprise to the downside
Job growth in the US continued slowing unexpectedly September even as the latest wave of Covid-19 infections appeared to have peaked.
Downside surprise in weekly US jobless claims
Weekly US jobless claims in the US surprised to the downside last week and some economists expected them to continue doing so.
BoA raises short-term UK CPI forecasts
Economists at Bank of America bumped up their consumer price forecasts for the UK on the back of the recent jump in energy quotes although they still assumed that inflation would dip below Bank's 2. 0% target in April 2023 temporarily.
Russia to boost gas supplies to Europe - report
Russia is to set to boost gas supplies to Europe amid soaring wholesale prices, it was reported on Wednesday.
Private sector payroll growth beats forecasts in September, ADP says
Job growth in the US sped ahead of forecasts last month, according to the results of a closely-followed survey.
Europe close: Stocks buck early losses to finish higher, banks gain
European stocks bucked overnight losses on Wall Street and Asia to rally on Tuesday, helped by better-than-expected readings for key surveys on services activity on both sides of the Pond.
Yellen warns of recession risk if federal debt ceiling is not raised
US Treasury chief Janet Yellen warned Congress that the economy was prone to falling into a recession if lawmakers failed to raise the federal debt limit and avert a default on the country´s debt.
US consumer confidence remains at depressed levels in September
Consumers in the US grew a bit more confident last month but remained depressed overall, perhaps the most closely-followed sentiment survey revealed.
US factory activity picks up unexpectedly in September, ISM says
Activity in America´s manufacturing sector picked up slightly last month despite the myriad supply-side afflicting the sector, the results of a closely-followed survey revealed.
Euro area factory PMI drops in September as supply issues wreak havoc
Manufacturing activity in the euro area slowed by the most since April 2020 during the preceding month, as supply issues continued to wreak havoc, the results of a closely-followed survey revealed.
Euro area CPI edges past forecasts in September
The cost of living in the euro area edged past forecasts last month amid a jump in the prices of industrial goods and energy.