Financial News

Strategic Petroleum Reserve increased to 351.6 million bpd as U.S. started to buy oil for reserves after the strong pullback.

Q3 2023 sees US GDP grow 5.2%, driven by investment, spending, and stable inflation, boosting economic outlook.

The report indicated that consumers remained preoccupied with rising prices.

The S&P CoreLogic Case-Shiller and FHFA Indices report a continued rise in US housing prices.

New Home Sales fell in October as high mortgage rates put pressure on buyers.

Composite PMI remained unchanged as service providers enjoyed a fractional uptick in the rate of output growth.

November’s Ifo Index at 87.3 shows a modest rise in German business sentiment, hinting at cautious economic optimism.

The German economy contracted by 0.1% quarter-on-quarter in Q3, in line with the preliminary report. However, year-over-year figures were weaker.

The report marked a fourth consecutive month of declines in consumer sentiment.

October’s durable goods orders fell 5.4%, more than expected, while jobless claims dropped to 209,000, showing labor market strength.”

Climate and demographic risks have an important if moderate impact on public debt trajectories for most EU countries but become increasingly credit-rating relevant and mutually reinforcing in the long run.

ECB review highlights Euro area’s financial risks, tight financing strains, and banks’ profitability challenges amid market corrections.

On Tuesday, Binance Founder Changpeng Zhao confirmed his exit as CEO. While a successor has been announced, the market sentiment remains pensive. 

Fed expects that data arriving in coming months would help clarify the extent to which disinflation process was continuing.

The constitutional court ruling underlines Germany’s strong fiscal framework but complicates the government’s ability to address persistent under-investment of around EUR 300bn over the past decade.

A wider Middle East conflict could adversely impact the credit ratings of some euro-area sovereigns if this resulted in further monetary-policy tightening to tame renewed rises in inflation, and thus weaker growth.

The Conference Board expects that U.S. economy will fall into a very short recession.

Central banks are balancing inflation control with economic growth, impacting financial markets and currency values.

Central banks will be in the spotlight in the week ahead. The Bank of England may have more to say after the recent inflation and retail sales figures.

It was a mixed Monday to Friday for the crypto market. XRP was underwater as investors reacted to the latest court schedule, while DOGE was on the move.