Fed Voting Obstacles, Expiring Aid Programs, and ECB Policy
In a look at news making headlines, Fed voting issues, stimulus packages, and ECB policy are the focus. Here are the monetary policy developments: Shelton’s time is running out in…
Post-Election Markets Pricing to Shift to Vaccine Progress and Growth Outlook – Goldman
Goldman strategists believe that the financial markets have moved a long way towards pricing in the U.S. election outcome, according to Bloomberg. The strategist points out that attention is now…
ECB Expects Negative Eurozone Growth in the Fourth Quarter
European Central Bank Vice-President Luis de Guindos expects the Eurozone growth to be negative in the fourth quarter, according to Reuters. The negative growth is attributed to fresh restrictions imposed…
Eurozone PMI in October Rises to 54.8. Surpasses September’s Final and Flash Reading
Eurozone Manufacturing PMI improved in October to reach 54.8, up from September’s 53.7 and higher than the flash reading of 54.4, according to HIS Markit press release. October PMI is…
The Invitation From S&P 500 and DAX
Last week the markets’ sentiment was shifting towards risk aversion. The risk assets across the board have declined and approached the significant price levels. The US and European indices currently…
Economic Recovery in the Euro Area Halts, Employment Expectations Down
October's Economic Sentiment Indicator (ESI) in the Euro area and EU remained unchanged at 90.9 and 90.0, respectively, according to the European Commission press release. Employment Expectations Indicator (EEI) was…
Eurozone Banks set to Tighten Credit Access despite Pandemic Concerns
Eurozone banks tightened corporate credit access in Q3 and will curtail further as worries of a fresh wave of coronavirus infections rise, according to European Central Bank’s press release. Credit…
The U.S. Leads Economic Upturn, as Europe Stagnates on Virus Containment Measures
Flash PMI data for the G4 developed economies remained largely unchanged in October as rising COVID-19 restrictions slowed recovery, especially in the service sector, according to IHS Markit. In the…
Germany Factory Orders up 4.5% in Latest Sign of Recovery
Germany recorded a 4.5% rise in new orders for August, surpassing analysts’ expected 2.8% increase, according to press release. The rise in factory orders driven by demand abroad. Export orders…
Sentix: Euroland’s Economic Recovery Stagnates, Asia Picks Up
After sustained growth, the Sentix economic index in the Eurozone dropped by 0.3 points to reach -8.3, according to press release. Economic index higher than analysts’ expected -9.3. Asia sustained…
Deutsche Boerse Proposal Seeks to Expand DAX
Deutsche Boerse is pitching to include 40 firms from 30 representing the German blue-chip’s DAX now, according to Reuters. Proposed reforms call for tougher membership criteria in the wake of…
Economic Rebound: Accommodative Monetary Policy to Remain Unchanged-ECB Governing Council
Economic activity as of 10th September 2020 in the euro area remained strong in line with the previous expectations, according to ECB press release. Manufacturing improving, but slowdowns in service…