Briefly about the main thing
2022.12.07 00:50
Briefly about the main thing
Budrigannews.com – After another hat trick dominated the World Cup a few hours later, European shares ended lower for the third straight session on Tuesday as fears of a recession spooked investors.
In his first World Cup, 21-year-old Goncalo Ramos of Portugal scored three goals against Spain to advance his team to the quarterfinals for the first time in 16 years. Furthermore, a 3-0 shootout win by Morocco against previous bosses Spain implied that Morocco turned into the very first Middle Easterner country to meet all requirements for the competition’s quarter-finals.
Asian equities traded rangebound on Wednesday after U.S. stocks once more suffered losses as markets gradually factor in sharper interest rate hikes. On the European stock market, there appears to be little interest for risky assets.
Official pronouncements for the Euro Area are pointing to a rate peak, but investors are still haunted by sluggish growth and stubbornly high inflation.
On Tuesday, ECB policymaker Constantinos Herodotou stated that interest rates will rise once more, but that they are currently “very close” to their neutral level.
Markets will focus on industrial output data from Germany. Other economic indicators for the day include GDP and employment numbers from the euro zone’s third quarter and house prices in the UK.
In anticipation of a series of significant decisions made by the central bank next week, government bond yields in the Euro zone fell on Tuesday for the first time in three days.
According to a survey conducted by Reuters among market strategists, the growing threat of recession in the United States and elsewhere will keep the dollar firm in 2023 through safe-haven flows, resulting in the currency’s rebound against most currencies over the coming months.
Top financial professionals from JPMorgan Chase & Co. (NYSE:), NYSE: Bank of America likewise Goldman Sachs warned of a recession the following year due to the threat posed by inflation to consumer demand.
On the corporate front, Airbus limped toward the end of a year marked by disruptions in factories and supply chains, giving up a numerical forecast for jet deliveries and a date for its key production goal, but maintaining its financial targets.
In addition, the British government of Prime Minister Rishi Sunak announced that it would relax restrictions on the construction of onshore wind farms, putting an end to a revolt by lawmakers from his party, who had demanded that they be permitted with local support.
Major currency pair outlook: ECB-INFLATION Budrigannews Key developments that could affect markets on Wednesday:
monetary data: October industrial production in Germany,
Q3 GDP in the Eurozone, employment (final),
November house prices in the UK Speakers:
Fabio Panetta, Elizabeth McCaul, and Philip Lane of the ECB U.S. economic data:
Costs per unit of labor in the third quarter
