September data from the Markit Flash United States Services Purchasing Managers’ Index painted a mixed picture of the sector, with sharply improving activity offset by a slowdown in new business and job growth.
Donald Trump called tax avoidance “smart” during the first live US Presidential TV debate with rival Hillary Clinton in New York.
The Federal Reserve’s decision announced last night to keep rates on hold has left investors waiting to see the outcome and market impact of the Presidential election before a rate rise is put back on the agenda.
In August, $51bn left the mainland, according to Standard Chartered estimates, as authorities increased support for the mainland currency, which is under devaluation pressure.
With news overnight that the Bank of Japan has unveiled a new form of stimulus, professional investors and economists reacted with mixed enthusiasm.
Ahead of the Bank of Japan’s policy meeting on Wednesday, BNY Mellon’s Miyuki Kashima argued Abenomics has not run out of steam and despite the negative headlines, there are encouraging signs of economic recovery.
The Bank of England’s Monetary Policy Committee unanimously voted to hold rates at 0.25% Thursday, but economists expect another rate cut will materialise in November.
Consumer price inflation was unchanged in August but economists warned we have yet to witness the full impact of sterling depreciation post-Brexit vote.
The European Central Bank decided to stick rather than twist today as it announced the deposit rate has been held at -0.4%, the refinancing rate held at zero, and the details of its €80bn per month quantitative easing programme are unchanged.
The pound clawed back more of the ground lost following the referendum on European Union membership this morning after the release of strong services sector data.
The latest United States employment data fell short of the average monthly gains in 2016, leaving many questioning the probability of an interest rate increase in September.
Business confidence in the eurozone fell notably over the summer according to today’s update to the European Commission’s Business Climate Indicator.
