The IFO index, which measures confidence in Germany, fell short of expectations in November. The index, based on a survey of nearly 9,000 German companies, dropped to 88.1 points, compared to October's reading of 88.4 points, while expectations had been for a rise to 88.6. Specifically, the current situation index rose to 85.6 from 85.3 in October, while the expectations...
Cryptocurrencies continued their decline for the third consecutive session on Friday, November 21st, amid ongoing sell-offs and a continued drop in market capitalization. This decline coincided with a decrease in risk appetite in global markets, from stocks to cryptocurrencies. The cryptocurrency fear and greed index rose to 11 points, its lowest reading since April. Global financial markets have been...
Data released at the start of the European session on Friday, November 21, showed mixed performance in most services and manufacturing PMIs for the Eurozone and the UK in the preliminary reading for November. The Eurozone services PMI improved to an 18-month high of 53.1 in November, compared to 53.0 in October (forecast 52.8). Conversely, the manufacturing PMI fell to...
UK retail sales fell for the first time since May, declining by 1.1% in October. This compares to a revised increase of approximately 0.7% in September (originally reported as 0.5%), while forecasts had predicted a decline of around 0.1%. However, sales in the three months to October rose by 1.1% compared to the three months to July, supported by clothing...
Major US stock indices opened higher on Thursday, November 20, after a series of declines since the start of the week. Nvidia's results eased pressure on the technology and artificial intelligence sector, which had been a major driver of recent market losses, in addition to reduced market expectations for an interest rate cut in December. All sectors of the S&P...
The US Bureau of Labor Statistics report released moments ago shows that the US economy added 119,000 jobs in September, a figure delayed due to the government shutdown. This compares to a revised figure of 22,000 jobs added in August (later revised upwards to a loss of 4,000), exceeding market expectations of 53,000 new jobs. Meanwhile, the unemployment rate rose...
Crude oil prices fell more than 2% in midday European trading on Wednesday, November 19, after rising for four consecutive sessions. This decline was influenced by Russian statements indicating that Russia would soon reach its production quota. Preliminary figures showed an increase in inventories, while markets awaited official figures from the US Energy Information Administration later in the day. US...
The UK's Consumer Price Index (CPI), which measures inflation, rose 3.6% year-on-year in October, according to data released by the Office for National Statistics (ONS) on Wednesday morning, November 19. This compares to 3.8% in September and was below expectations of a slowdown to 3.5%. On a monthly basis, the CPI rose 0.3% in November, compared to 0.6% in October...
Cryptocurrencies experienced near-universal declines in midday trading on Tuesday, November 18th, marking their sixth consecutive session of losses. This coincided with a decrease in risk appetite across markets and a decline in global stocks amid concerns about a slowdown in the technology and artificial intelligence sectors. Market expectations for a Federal Reserve interest rate cut in December have also diminished....
Gold traded lower for the fourth consecutive session in midday European trading on Tuesday, November 18th, as market expectations for an interest rate cut at the December meeting diminished. This positively impacted the US dollar and negatively affected gold, which fell by approximately 0.19% to trade at $4,036 per ounce. Silver, meanwhile, traded at $50.27 per ounce, up 0.13%. Market...