Financial News

Eurozone’s Sentix Index improved, sparking cautious economic optimism, but global stagnation fears still check sentiment rise.

Financial markets brace for a week of uncertainty with pivotal events like Fed Chair Powell’s speeches, RBA’s rate hike, and UK GDP on the horizon.

Bitcoin spot-ETFs, XRP and Ripple, the WSJ article, and the SEC were in the spotlight. The Sam Bankman-Fried verdict got the Friday headlines, however.

The sector has grown in 40 of the last 41 months.

October jobs report falls short of estimates with a 150,000 increase, signaling mixed labor market health.

SP500 futures are moving higher in premarket trading as traders bet on a less hawkish Fed.

The Bank of England’s MPC paused its 14-hike streak due to Middle East events and looming inflation, suggesting possible future tightening.

The imports of one-offs limited the impact of Australian trade data on RBA rate hike bets. Imports surged by 7.5% in September.

Markets stay choppy as traders wait for Powell’s press conference.

In October, the private sector added 113,000 jobs, missing the Dow Jones forecast of 130,000, while wage growth hit a one-year low at 5.7%.

The China Caixin Manufacturing PMI for October raised question marks about the economic outlook and the effectiveness of stimulus measures.

Consumers are worried about rising prices, political situation, and high interest rates.

In October 2023, Eurostat forecasts a drop in Euro area inflation to 2.9% from 4.3%, a sharp -11.1% energy rate decline, and a 0.1% GDP dip.

The Company Outlook Index has slightly improved from -17.5 to -17.1.

Currency movements will be driven by central bank actions, economic data, and market sentiment in the coming days.

BTC-ETF market news fueled demand for cryptos. However, XRP trailed amidst fear of the SEC appealing the Programmatic Sales ruling.

The pullback in Consumer Sentiment was driven by higher-income consumers and those with sizable stock holdings.

In September 2023, US personal income rose $77.8 billion (0.3%), spending surged by $138.7 billion (0.7%), and Core PCE inflation held steady at 0.3%.

The report exceeded analyst expectations, providing additional support to U.S. dollar.

In Q3 2023, GDP surged to 4.9% driven by consumer spending, though personal savings saw a decline, hinting at future financial concerns.