Financial News

The strong economic data shows that Fed has plenty of room for maneuver.

Non-Farm Payrolls increased by 517,000 for January, well above the Reuters estimate of 185,000. Unemployment drops to 3.4%.

It was a busy start to the European session, with Eurozone private sector PMIs beating forecasts. Later today, the US Jobs Report will garner greater interest.

The slowing demand for COVID-19 antibodies and diabetes drugs hurt the company’s topline.

ECB pledges to “stay the course in raising interest rates significantly at a steady pace.”

The Monetary Policy Committee (MPC) voted 7-2 in favor of a second consecutive half-point rate hike, taking the main Bank rate to 4%.

After a tumultuous 2022 in the digital asset space, investment opportunities have presented themselves in 2023, with Web3 a target for investment funds.

Italy began 2023 in a better-than-expected economic and fiscal position but its high public debt, slowing growth and higher interest rates weaken debt sustainability.

The Fed signaled that it would continue to raise rates to fight inflation. Trading action is choppy, and market participants are waiting for Jerome Powell’s press conference.

ISM Manufacturing PMI declined to the lowest level since May 2020.

The U.S. private sector labor market fell in January, with companies adding fewer jobs due to weather-related issues, according to ADP.

It was a busy morning, with euro area inflation and PMIs drawing interest. However, the Fed Chair Powell press conference will be the main event.

Markets are choppy as traders prepare for the Fed decision, which will be released tomorrow.

As the Federal Reserve moves interest rates higher, mortgage financing continues to be a headwind for home prices.

Economic data from the euro area supported a hawkish ECB stance on monetary policy today. However, bets of a hawkish Fed Chair are clouding the picture.

The report indicated that businesses remained worried about rising input costs and the upcoming recession.

It was a busy start to the day on the economic calendar. The German economy contracted in Q4, creating uncertainty going into 2023.

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US mortgage rates fell for a third consecutive week, according to figures from Freddie Mac. Another sharp decline would boost homebuyer appetite.

The Pending Home Sales report has also exceeded analyst estimates, indicating that the housing market has started to recover.