Bloomberg Business -Nonfarm payrolls: The view among economists is that if today’s Nonfarm Payrolls growth comes in close to the projected 185,000 it will allow the Federal Reserve to press ahead with its first rate rise since 2006 at its December meeting. The market is already pricing in higher chances of an increase in benchmark....
Bloomberg Business -Fedspeak: Emerging market currencies are weaker against the U.S. dollar and EM stock volatility is hovering near its highest level since March 2012 ahead of a bunch of Federal Reserve speeches scheduled for today. -Dovish Draghi: Mario Draghi signaled that the European Central Bank is ready to boost stimulus at its December meeting....
Bloomberg Business -Dollar: The U.S. dollar has risen to a seven-month high against the euro, with Nomura adding to Goldman’s recent call for parity between the greenback and the euro by the end of this year. In an interview with Bloomberg, European Central Bank Executive Board Member Peter Praet highlighted risks of inflation expectations in....
Bloomberg Business -Fed minutes: Perhaps the most remarkable thing about the market reaction to yesterday’s release of the October FOMC minutes, which appeared to stress the potential for an interest rate liftoff in December, is how few signs there are of investor unease. The greenback has weakened, with the Bloomberg Dollar Spot Index dropping 0.4....
Bloomberg Business -Warplane shot down: Turkey has shot down a Russian jet near the Syrian border. In the immediate aftermath markets have reacted nervously, with the lira selling off, Russian stocks sliding and global government bonds climbing as investors move to safe havens. Bloomberg.com will have more on this developing story throughout the day. -Ackman....
Bloomberg Business -Metals Rally on Chinese Support, Boosting Stocks; Aussie Slides: Signs China is moving to prop up metals prices boosted aluminum to zinc, helping to fuel a second day of gains in European equities. Copper jumped as much as 4.2 percent and aluminum rose the most since early October, pushing up miners on the....
Bloomberg Business -IMF decides on the yuan: At its executive meeting today in Washington, the IMF will decide whether to grant China’s yuan status as a reserve currency by adding it to the fund’s Special Drawing Rights (SDR) basket. The decision is almost certain to be to include the yuan after IMF Managing Director Christine....
Bloomberg Business -Initial Jobless Claims in U.S. Rose to 269,000 Last Week: Applications for unemployment benefits in the U.S. rose last week, maintaining a see-saw pattern around four-decade lows that shows persistent strength in the labor market. Jobless claims climbed by 9,000 to 269,000 in the period ended Nov. 28, matching the median estimate in....
Bloomberg Business -Prepare for liftoff: Friday’s better than expected U.S. jobs report seems to have cemented the Federal Reserve’s case for liftoff later this month. Economists at Barclays reckon that a rate hike is now fully priced in, while Allianz SE Chief Economic Adviser and Bloomberg View columnist Mohamed El-Erian says it would be difficult....
Bloomberg Business -Anglo keeps mining slump going: European mining stocks continued their losing streak into a seventh day despite a rebound in metals prices and oil. Anglo American Plc tumbled the most on record yesterday, and today shows no signs of letting up – down 8.8 percent. The stock is on track for its worst week....
Bloomberg Business -Commodities: Oil is gaining after yesterday’s drop below $35, with WTI for January delivery at $37.06 a barrel on the New York Mercantile Exchange at 10:30 a.m. London time. In the wider commodity market, Sam Walsh, chief executive officer of Rio Tinto Group warned that the collapse in iron ore prices has some....
Bloomberg Business -Ding dong, the ZIRP is dead: Markets around the world have reacted very positively to the U.S. Federal Reserve’s expertly-managed rate rise. The word of the day is «gradual» as the question quickly moved on from «when?» to «how fast?» the Fed would be raising rates. The famous dot-plot is pointing to four....
Bloomberg Business -Oil: WTI futures in New York slid 1.9 percent to $32.50 a barrel while contracts on Brent crude dropped 2.2 percent to $32.80 at 10:43 a.m. London time. Morgan Stanley has warned that a rapid appreciation of the U.S. dollar may send Brent crude as low as $20 a barrel. Saudi Arabia, which....
Bloomberg Business -Global stock rebound: Mario Draghi promised further easing in March. China’s Vice President Li Yuanchao vowed to ‘look after’ stock market investors. Stocks have reacted very positively with Japanese shares surging by the most in four months, Chinese markets closing higher and European stocks rallying. U.S. futures are also indicating a higher open.....
Bloomberg Business -Iowa: Hillary Clinton emerged victorious in the closest ever Iowa Democratic caucus, with her 49.9 percent to Bernie Sander’s 49.5 percent enough to ensure a win even with one precinct left to report. On the Republican side, there were two surprises: that U.S. Senator Ted Cruz won ahead of Donald Trump and that....