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Macro Indicators News Stream

WTI Crude Pares Gains With Lower Demand for Gasoline
WTI crude futures cut some gains to trade around $66.5 per barrel on Wednesday, after rising as high as $69.47 earlier in the session as US officials said to continue to consider tools to manage energy prices, while government data pointed to weaker gasoline demand. US gasoline stockpiles rose by 4 million barrels, well above expectations of a 29 thousand barrels increase. Still, the oil prices recouped some losses, after dipping below $65 in the previous session, as investors await the outcome of the OPEC+ two-day policy meeting. The group is widely expected to pause plans to add 400,000 barrels per day of supply in January as oil producers evaluate the effects of the release of oil reserves by major energy-consuming nations in November and the possible impact of a new coronavirus variant on fuel demand. A Reuters survey found that even if the group decides to go ahead with the planned supply increase, it may struggle to add much due to capacity constraints.
Dec 1, 2021 18:08 (GMT)
Chile Economic Activity Growth Eases in October
Chile’s IMACEC economic activity index grew 15 percent year-on-year in October of 2021, easing from 15.6 percent in September and below market expectations of 15.4 percent. It was the lowest rate since April, as low base effects begin to diminish. Growth declined for goods production (9.1 percent vs 19.5 percent in September), trade (17.7 percent vs 20.3 percent), and industry (3.7 percent vs 10.4 percent). On the other hand, growth picked up for services (19.6 percent vs 19 percent) while mining activity rebounded (0.6 percent vs -6.7 percent). On a seasonally adjusted monthly basis, economic activity in Chile remained constant.
Dec 1, 2021 17:36 (GMT)
South African Stocks End at Record High
The FTSE/JSE All Share Index was up 1% to close at a record level of 71,198 on Wednesday, extending gains for a third straight session, mainly lifted by gains in miners. Market sentiment was also supported by remarks from South African health experts and some drugmakers that COVID-19 vaccines were likely to offer protection against any severe disease from the Omicron variant. Meanwhile, investors digested comments by the US Federal Reserve chair about speeding up tapering its bond purchases, in an effort to curb inflation. On the data front, Absa’s purchasing managers index hit a five-month high in November, as business activity and sales orders rebounded from sharp declines in October, which were propelled by a three-week long strike in the steel and engineering industries and intense load shedding.
Dec 1, 2021 16:58 (GMT)
Milan Shares Rebound from 11-Week Lows
The FTSE MIB rebounded 2.2% to close at 26,371.92 on Wednesday, partially recovering from the 11-week lows hit on last session, as fears over the Omicron variant slightly subdued while the energy and industrial equities tracked higher oil quotes following the start of the OPEC+ announcement. In the meantime, investors anticipate tightening monetary policy, following the possibility of an accelerated taper by the Federal Reserve, while inflationary pressure domestically and in the Eurozone continue to mount. On the data front, Italy’s IHS Manufacturing PMI came in higher than expected at 62.8, signalling the eighteenth straight month of expansion. On the corporate front, gains were led by Stellantis (5.7%), STMicroelectronics 4.3%), and Tenaris (4.1%).
Dec 1, 2021 16:48 (GMT)
Paris Shares Rebound on Wednesday
The CAC 40 Index rose 2.4% to close at 6,881.87 on Wednesday, partially recovering from last week’s drop, as investors welcomed promising labor data from the US and subdued fears over the Omicron variant, while still assimilating the possibility that the Fed will speed up its taper. Shortly before last session’s close, Fed Chair Powell said “transitory” is no longer accurate when describing current inflationary pressure, indicating the bond buys may slow further. On the data front, the Eurozone's Manufacturing Markit PMI indicated another month of expansion in the bloc's economy. On the corporate front, the travel and lodging sectors rebounded, as seen in Safran (4.4%), Airbus (3.2%), Air France-KLM (3.4%), and Accor (2%). The energy and industrial sectors also traded in the green due to higher oil prices, led by TotalEnergies (3.3%) and ArcelorMittal (2.9%).
Dec 1, 2021 16:46 (GMT)
European Shares Partially Recover from Recent Losses
European shares closed in the green on Wednesday, partially recovering from the multi-week lows hit in the previous session, with Frankfurt's DAX 30 gaining more than 400 points or 2.7% at 15,506 and other major indices rising between 1.7% and 2.7%. Investors digested a batch of mixed economic data, while remaining concerned about the new omicron Covid variant and its impact on growth, as well as rising inflationary pressure and the US Federal Reserve's signal of a quicker-than-planned taper. Fed Chair Jerome Powell indicated that the central bank will be discussing speeding up the pace of its bond-buying taper at a meeting later this month and the word "transitory" is no longer the most accurate term to describe current inflation. On the data front, the final Markit PMI survey for the Eurozone's manufacturing sector pointed to another month of strong expansion in the bloc's economy, while German retail sales for October came in below market expectations.
Dec 1, 2021 16:42 (GMT)
UK Stocks Rebound from 7-Week Low
The FTSE 100 rose 1.6% to close at 7,170 on Wednesday, partially offsetting the last session losses, as global equity markets try to recover from a dramatic sell-off that saw the index hit a nearly seven-week low in the previous session. Still, concerns over the spread of the omicron variant, coupled with ongoing price pressure and the Fed’s signal of faster tapering, mounted. On Tuesday, the US central bank's chief said the Fed will discuss whether to reduce their bond purchases faster than previously anticipated at its next meeting, and the word "transitory" is no longer the most accurate term to describe current inflation. On the economic data front, British house price growth accelerated in November.
Dec 1, 2021 16:37 (GMT)
Russia Real Wage Growth Rebounds From 7-Month Low
Real wages in Russia increased 2.0 percent year-on-year in September of 2021, rebounding from a 1.5 percent gain in August and above market expectations of 1.0 percent.
Dec 1, 2021 16:24 (GMT)
Russia Jobless Rate Steady at 2-Year Low in October
Russia's unemployment rate remained unchanged at 4.3 percent in October 2021 and below market forecasts of 4.4 percent. It remained at the lowest rate since August 2019, as the number of unemployed people fell to 3.3 million from 3.4 million in the previous period.
Dec 1, 2021 16:19 (GMT)
Russia Retail Sales Rise Less than Expected
Retail sales in Russia advanced by 4.1 percent year-on-year in October of 2021, easing from a 5.6 percent surge in the prior month and below market expectations of a 4.8 percent rise. It was the 7th consecutive month of growth in retail activity. Sales of food rebounded (2.5 percent vs -0.6 percent in September) while those of non-food products decreased (-0.7 percent vs -2.3 percent). On a monthly basis, retail sales went up 0.8 percent, after falling 1.5 percent in the previous month.
Dec 1, 2021 16:16 (GMT)

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