Pound Climbs On Brexit Deal Optimism

Trading 21 oct 2019 Commentaire »

The pound strengthened against its major counterparts in the European session on Monday, as the odds of a 'no deal' Brexit reduced after the U.K. sought another Brexit delay from the European Union.

Investors remained hopeful that Britain would be able to avoid a disorderly exit from the European Union despite a cross-party group of politicians voting to postpone the "meaningful vote" on Prime Minister Boris Johnson's new divorce deal.

The government is planning to hold a new vote on its Brexit deal today.

But the opposition MPs are likely to table amendments that seek customs union with the EU or a referendum on the deal.

Data from IHS Markit showed that UK households' perception of financial wellbeing remained negative in October but the assessment improved from September.

The household finance index rose to 44.4 from 43.1 in the previous month. This was the highest score since January.

The currency dropped against its major counterparts in the previous session, excepting the franc.

The pound climbed to a 4-day high of 0.8579 against the euro, from Friday's closing value of 0.8598. The next possible resistance for the pound is seen around the 0.84 mark.

Data from Destatis showed that Germany's producer prices declined in September for the first time in nearly three years.

Producer prices fell 0.1 percent year-on-year in September, reversing a 0.3 percent rise in August. Economists had expected the price to decrease 0.2 percent.

The pound appreciated to 1.3013 against the greenback, its biggest since May 13. The pound is likely to find resistance around the 1.32 level, if it rises again.

Rebounding from a low of 139.47 hit at 6:15 pm ET, the pound strengthened to a 4-day high of 141.36 against the yen. The pound is likely to challenge resistance around the 143.00 mark.

Figures from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity remained unchanged in August.

The all industry activity index remained unchanged month-on-month in August, after a 0.2 percent rise in July. Economists had forecast a modest 0.1 percent fall.

Following a decline to 1.2679 at 6:15 pm ET, the pound firmed to a 4-day high of 1.2819 against the franc. The pound is seen finding resistance around the 1.32 level.


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Belgium Consumer Confidence Improves In October

Trading 21 oct 2019 Commentaire »

Belgium's consumer confidence rose for the first time in three months in October, survey data from the National Bank of Belgium showed on Monday. The consumer confidence index rose to -8 from -11 in September. In August, the score was -9.

The revival of confidence is mainly due to a less gloomy macroeconomic outlook, the bank said.

Households' expectations regarding unemployment trends improved sharply, as a result of which the substantial deterioration seen last month has been more than wiped out, the bank added.


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*Belgium Oct Consumer Confidence -8 Vs. -11 In September

Trading 21 oct 2019 Commentaire »

Belgium Oct Consumer Confidence -8 Vs. -11 In September


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Germany May Have Entered Recession In Q3: Bundesbank

Trading 21 oct 2019 Commentaire »

Germany might have entered a technical recession in the third quarter, the Bundesbank said in its monthly report on Monday. However, a deep recession is not expected.

A recession in the sense of a significant, broader and sustained decline in output with underutilized capacity is currently not in view, the central bank said.

The largest euro area economy contracted 0.1 percent in the second quarter. Another decline in GDP means that the economy entered a technical recession.

While domestic demand remains robust, export-oriented manufacturing industry continued its downturn, Bundesbank noted. The central bank sees rising risks of spill over.


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Latvia Producer Price Inflation Rises In September

Trading 21 oct 2019 Commentaire »

Latvia's producer price inflation rose in September for the first time in nearly a year, figures from the Central Statistical Bureau showed on Monday.

The producer price index rose 0.5 percent year-on-year in September, after a 0.4 percent increase in August.

The acceleration was the first since November last year.

Among components, prices in water supply grew 4.2 percent annually in September and those in electricity, gas, steam and air conditioning supply rose by 2.4 percent.

Mining and quarrying prices increased by 1.0 percent, while manufacturing prices fell 0.1 percent.

Domestic market prices rose 1.8 percent annually in September while those in foreign market fell 0.7 percent.

On a monthly basis, producer prices fell 0.3 percent in September.


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*Bundesbank: Germany May Have Contracted In Q3

Trading 21 oct 2019 Commentaire »

Bundesbank: Germany May Have Contracted In Q3


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Slovenia Output Prices Rise Further In September

Trading 21 oct 2019 Commentaire »

Slovenia's output price inflation rose in September, figures from the Statistical Office of the Republic of Slovenia showed on Monday.

Output prices rose 0.4 percent year-on-year in September, following a 0.2 percent increase in August and July.

Energy prices rose 12.5 percent annually in August, while prices of intermediate goods fell 1.0 percent.

Prices for electricity and water supply rose by 16.2 percent and 9.0 percent, respectively.

Manufacturing prices fell 0.3 percent.

On a monthly basis, output prices remained unchanged in September, after a 0.1 percent rise in the preceding month.


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Gold Holds Steady In Cautious Trade

Trading 21 oct 2019 Commentaire »

Gold prices held steady in cautious trade on Monday as investors watched Brexit developments and monitored the news flow in the U.S.-China trade talks.

Both spot gold and U.S. gold futures were up 0.1 percent at $1,492.05 per ounce and $1,495.55, respectively.

Trade worries prevailed in the markets, with a Reuters report suggesting that China is seeking $2.4 billion in retaliatory sanctions against the United States for non-compliance with a WTO ruling in a tariffs case dating back to the Obama era.

U.S. President Donald Trump said he thought a U.S.-Sino trade deal would be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16 and 17.

Separately, Chinese Vice Premier Liu He said that China would work with the United States to address each other's core concerns on the basis of equality and mutual respect.

While fears of an economically damaging no-deal Brexit eased somewhat, the recent euphoria of a Brexit deal has also declined.

Investors remain hopeful that Britain would be able to avoid a disorderly exit from the European Union despite a cross-party group of politicians voting to postpone the "meaningful vote" on Prime Minister Boris Johnson's new divorce deal.

Traders are also reacting to downbeat comments from the incoming European Central Bank (ECB) President Christine Lagarde and direct threats to the U.S. by North Korea's Vice Minister.


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Oil Prices Fall On Demand Concerns

Trading 21 oct 2019 Commentaire »

Oil prices fell on Monday amid renewed concerns over energy demand outlook as global growth slows.

Benchmark Brent crude dropped 0.9 percent to $58.88 a barrel while U.S. West Texas Intermediate crude oil futures were down 0.6 percent at $53.55 a barrel.

Trade worries prevailed in the markets, with a Reuters report suggesting that China is seeking $2.4 billion in retaliatory sanctions against the United States for non-compliance with a WTO ruling in a tariffs case dating back to the Obama era.

U.S. President Donald Trump said he thought a U.S.-Sino trade deal would be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16 and 17.

Separately, Chinese Vice Premier Liu He said that China would work with the United States to address each other's core concerns on the basis of equality and mutual respect.

While fears of an economically damaging no-deal Brexit eased somewhat, the recent euphoria of a Brexit deal has also declined.

Traders are also reacting to downbeat comments from the incoming European Central Bank (ECB) President Christine Lagarde and direct threats to the U.S. by North Korea's Vice Minister.


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Croatia Jobless Rate Falls In September

Trading 21 oct 2019 Commentaire »

Croatia's jobless rate fell marginally in September after remaining unchanged in the previous month, figures from the Croatian Bureau of Statistics showed on Monday.

The registered unemployment rate fell to 6.7 percent in September from 6.8 percent in August. In June, the rate was 6.7 percent.

The number of unemployed persons decreased to 112,376 in September from 114,498 persons in the previous month.

The number of employed persons fell to 1.56 billion in September from 1.57 billion in the prior month.


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