European Stocks Set to Rise as Investors Await Powell’s Comments: Market Update

European stocks rose, and US Treasuries remained steady before a speech from Federal Reserve Chair Jerome Powell that could provide insight into the direction of interest rates. The Stoxx 600 index gained 0.4%, while Nasdaq futures slipped. The dollar also edged lower against other major currencies. Crude oil prices declined despite OPEC+ discussing supply cuts, …

Read more

Economic Update: Inflation Gauges Hit 2021 Lows, Hinting at End to Interest Rate Hikes

(Bloomberg) — US and euro zone inflation gauges are anticipated to reveal the smallest annual increases since early or mid-2021, solidifying the belief that interest rates won’t be hiked again. Expected on Thursday, the Federal Reserve’s preferred measures will show the personal consumption expenditures price index rising 3.1% from a year ago in October. Meanwhile, …

Read more

European Bond Prices Decline Due to Supply Concerns as Oil Prices Fall: Market Recap

European bond prices dropped following the news that Germany will again suspend debt limits, with worries mounting over increased borrowing in the slowing euro-area economy. This marks the fourth consecutive year that Germany will suspend its debt limits. The radical budget overhaul implemented by Chancellor Olaf Scholz’s government in response to a ruling last week …

Read more

How Stubborn Core Inflation is Fueling Fed Restlessness

Underlying US price pressures are advancing at a pace that causes apprehension among Federal Reserve officials to declare victory in their fight against inflation. The consumer price index (CPI) excluding food and fuel, seen as a better indicator of underlying inflation, is expected to rise by 0.3% for a third month. The core CPI is …

Read more

Unlocking China’s Ongoing Battle Against Deflation: A Closer Look

China is still grappling with deflationary pressures, which highlights the fragility of its economic recovery in the final months of 2023, according to Bloomberg. Economists surveyed by the publication anticipate that data due on Thursday will show consumer prices in China slipping into deflation in October. Producer prices are also expected to decline for the …

Read more

Unprecedented European Central Bank Rate Hike Sets New Records

President of the European Central Bank (ECB) Christine Lagarde gestures as she addresses a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on July 27, 2023. Daniel Roland | Afp | Getty Images The European Central Bank (ECB) announced its 10th consecutive hike in its …

Read more

Banks Criticized by Europeans for Failing to Transmit Increased Rates

A customer leaves a Piraeus Bank branch in Thessaloniki, Greece, expressing frustration with banks prioritizing profits over people. This sentiment resonates with European savers who are dissatisfied with the lack of returns on their savings despite rising interest rates. While mortgage payments have increased due to the European Central Bank’s rate hikes, savings account rates …

Read more

European Central Bank Hits Pause, Commerzbank CFO Reports

The chief financial officer of Commerzbank informed CNBC on Friday that the European Central Bank (ECB) is likely pausing its rate hiking cycle. In July, the ECB raised interest rates, completing a year of rate increases. ECB President Christine Lagarde suggested that the central bank may continue or pause rate hikes at its upcoming September …

Read more

Interest rates increase by 25 basis points

The European Central Bank (ECB) has made an announcement regarding a new rate decision on Thursday. Daniel Roland | AFP | Getty Images The ECB has increased its main rate by a quarter percentage point, bringing it to 3.75%. This rate hike marks the completion of a full year of consecutive rate increases in the …

Read more