Macro-News round-up:

#MarketNews

  • Europe: In October, there was an unexpected decrease in German exports, which fell by 0.2% from the previous month due to a drop in demand within the European Union, as reported by the federal statistics office today.
  • Federal Reserve Chairman Jerome Powell’s recent comments last Friday, which conveyed a balanced perspective on the US economy, have sparked hope among bullish investors.
  • Powell’s statement that the risks of increasing interest rates too far are now “more balanced” against the risks of not raising them enough to control inflation, has led investors to speculate a shift towards a more dovish outlook.
  • Ed Al-Hussainy, a senior analyst at Columbia Threadneedle Investments, interpreted Powell’s message as an indication that inflation is decreasing faster than anticipated, allowing the economy to stabilize and observe the outcomes.
  • The US manufacturing sector is facing challenges, and signs of an economic slowdown are emerging. The Institute for Supply Management (ISM) poll, released on Friday, revealed a slight increase in consumer spending and a decrease in inflation in October. The economy is cooling due to the dampening effect of higher interest rates on demand.
  • NATO Secretary General Stoltenberg has expressed that Ukraine is in a critical situation and that preparation for unfavourable news is necessary. However, he emphasized that the West must continue to support Ukraine in both good and bad times. In the meantime, China’s military has accused the US of deliberately disrupting the South China Sea and seriously infringing on China’s sovereignty.
  • The head of Shin Bet, Israel’s internal security service, has warned that Hamas leaders in Qatar and Turkey will be targeted.
  • In the commodities market, gold is experiencing a significant rise. After three years of stability and three previous attempts to reach $2,100 per ounce, the price of gold is now surpassing this mark, setting a new all-time high.

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