Financial News

Eurozone and German economic indicators beat expectations today. However, positive sentiment could shift in the coming weeks to pressure the EUR/USD.

Russia plans to fight against the oil price cap mechanism.

The German economy was back in the spotlight today. Following the disappointing PMIs on Monday, today’s stats continued to paint a bleak picture.

The surprising report had a significant impact on global market dynamics.

Investor morale in the Euro Zone rose this month to its highest level since June on hopes of lower chances of a recession.

Mortgage rates continued to trend downward, however, economic uncertainty is offsetting the effects of falling rates on buyer demand.

U.S. dollar rebounded from multi-month lows as Treasury yields rallied.

Eurozone wholesale inflation figures send the EUR/USD into the red and raise yet more questions over the ECB’s policy plans ahead of the US Jobs Report.

EU countries are trying to finalize the deal ahead of the EU ban on Russian seaborne oil, which will be implemented on December 5.

The PCE Price Index came in lower than expected giving the benchmark S&P 500 and tech-weighted NASDAQ Composite an early boost.

It was a busy morning on the economic calendar. Economic data from Germany and the euro area raised question marks over the ECB’s policy goals.

Oil traders are waiting for the details of the oil price cap scheme.

The ADP data supports the notion that the series of aggressive rate hike by the Federal Reserve are working to slow inflation and the labor market.

The GBP/USD was on the move this morning. However, Huw Pill inflation forecasts failed to weigh as investors look ahead to Fed Chair Powell’s speech.

Several EU countries are trying to set the price cap as low as possible.

Member state inflation softened in November, according to prelim figures, weighing on the EUR/USD and easing bets of another big December hike.

South Africa faces economic headwinds around growth, still-elevated inflation and a high and rising debt burden. Scope Ratings recently published BB+ ratings for South Africa.

BlockFi, which halted withdrawals after the collapse of the crypto exchange FTX, has finally filed for bankruptcy. 

Adobe Analytics is expecting record spending of about $11.2 billion with consumers looking to take advantage of discounts.

The return to orthodox fiscal policy by the UK’s new government is helping to restore confidence in the stability of public finances but a weaker fiscal framework makes further policy adjustment likely.