Source: ECB Members of the European Central Bank have agreed to revise the interest rate guidance, according to the minutes of the July meeting. Members consented to align interest guidances with the price stability objective in the new monetary policy strategy.Revisions to the forward guidance would influence the understanding of the new strategy which was agreed upon … [Read more...] about ECB Changes Interest Rate Guidance
Forex News
German Economic Uncertainties Push Consumer Sentiment Forecast Down 0.8 Points
Source: GFK GfK puts the German consumer sentiment value at -1.2 points for September, down 0.8 points from August amid a decline in propensity to spend and economic expectations. DAX is down -0.63%, EURUSD is up +0.02%. The fall in consumer sentiment reflects the uncertainty around tighter restrictions and the slow rollout of the covid-19 … [Read more...] about German Economic Uncertainties Push Consumer Sentiment Forecast Down 0.8 Points
US Goods Orders Down as Transportation Equipment Slips
Source: US Census Bureau New orders for US-made durable goods slipped in July after two consecutive months of increases, dragged mainly by transport equipment. New orders for manufactured goods fell by $0.4 billion or 0.1% to $257.2 billion, following the 0.8% climb in June.New orders increased by 0.7%, excluding transportation, which fell by 2.2% or $1.7 billion to $75.3 … [Read more...] about US Goods Orders Down as Transportation Equipment Slips
Pemex Platform Fire to Also Seen Hit Mexico’s Maya Crude Loadings
Source: IHS Markit Mexico’s Maya crude loadings, which cater to the US Gulf Coast and other global refining hubs, are likely to be hit by the fire-ravaged Pemex’s Ku-Maloob-Zaap production platform earlier this week. Chief Executive Romero Oropeza said output from 125 wells had been suspended for a few days due to the fire, which left at least five dead.This immediately … [Read more...] about Pemex Platform Fire to Also Seen Hit Mexico’s Maya Crude Loadings
Europe Investors’ Return Jumps 16.3% in CCC-Rated Bonds Sparking Demand
Source: Bloomberg European investors are gaining 16.3% annualized returns from the bonds at CCC rating and below, compared to an annualized return of 11.7% last year. Bank of America analysts now rank the bonds among the highest performing asset classes this year despite concerns about whether the returns will weather the tough U.S. high-yield market.The equity … [Read more...] about Europe Investors’ Return Jumps 16.3% in CCC-Rated Bonds Sparking Demand
