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On Friday, German 10-year bond gains slipped below zero. Meanwhile, European stocks and the common currency went down after grim data from the continent drove worries of a global economic deceleration after this week's dovish turn by the major US bank.
Gains on Germany's 10-year government bond became negative for the first time since October 2016 due to the fact that data revealed that manufacturing shrank for a third month in a row in March, contributing to fears that trade clashes are exacerbating a deceleration in the EU’s number one economy.
In general, factory activity in the euro zone was quite downbeat, shrinking at the fastest tempo for almost six years on the back of a big tumble in demand.
European equities suffered with German stocks diving by 0.3% having slumped to their lowest value for two weeks earlier. Stocks in Paris went down by 0.8%, while London's FTSE headed south by 1%. As for Europe's banking and industrial goods & services sectors, they became top losers.
MSCI's indicator of stocks worldwide went down by 0.2%, drifting away from the 5-1/2 months maximum recorded earlier in the week. American stock futures indicated that the souring mood would spread to Wall Street. Additionally, E-mini futures for the Down Jones, Nasdaq, and S&P inched down by 0.4%.
The German data compounded fears about the American economic outlook after on Wednesday the major US bank shocked traders by adopting a steeply dovish stance, anticipating no further interest rate lifts in 2019 and ending its balance sheet rolloffs.
The slump in German bund gains occurred after the American yield curve decreased further overnight, hinting at soaring market expectations of a downtime.
The greenback surged by 0.3% versus a group of six counterparts.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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