Four Banks Fight Against Inflation
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Euro zone factory activity shrinks faster in March
In March, factories in the euro zone demonstrated their worst performance for nearly six years, while forward-looking gauges pointed to downbeat times in the future, according to a poll, which is a dismal outcome for ECB policymakers.
As a matter of fact, IHS Markit's March final manufacturing Purchasing Managers' Index headed south for an eighth month, hitting 47.5 in contrast with February's reading of 49.3, which is below a flash forecast as well as its lowest outcome since April 2013.
An index gauging output change, feeding into a composite PMI due on Wednesday – considered to be a perfect indicator of economic health – headed south from 49.4 to 47.2 that appears to be its lowest value since April 2013 and also the second straight month it has slumped below the 50 mark, which divides contraction from surge.
The downbeat outcomes showed up after the ECB had its outlook changed in March. Apparently, it pushed back the timing of an interest rate lift until 2020 at the earliest and also told it would offer financial institutions another round of affordable loans to stimulate the euro zone economy.
In March, a Reuters survey discovered that the ECB might have missed its opportunity to have interest rates lifted before another downturn.
Friday's PMI guessed that downturn was actually underway. So, new orders headed south at their fastest tempo for more than six years, while factories decreased purchases of raw materials because they had unsold products stockpiled.
Upbeat mood as for the coming year weakened steeply. As for the future output index, it inched down from February's 56.7 to 55.5, which appears to be its lowest outcome since December 2012, so factories ramped up headcount in March.
Similar
BRICS, Jackson Hole, and the JPY are in Focus
The week was overfilled with events, especially from the BRICS summit and Jackson Hole meeting. Altogether, the market gained some fantastic opportunities. Here’s what we have for today’s session:
Amazing Week for Traders is Ahead
Hello, and welcome to the daily news release! Will the downtrend in gold change this week? What about oil? How long will it skyrocket? We have a lot to share with you.
Latest news
Current Risks for Developed Economies
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
Inflation Is in Focus Again
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
