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Market Moving News
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Intra-day Market Moving News |
25 Oct 2024 |
12:40 |
USD/CAD - 1.3846... LSEG reported Canadian retail sales grew by 0.4% in August from July at C$66.63 billion ($48.11 billion), led by higher sales at motor vehicle and parts dealers, Statistics Canada said on Friday. Sales were likely up 0.4% in September, the agency said in a flash estimate. In August, sales were up in four of nine subsectors, representing 52.2% of retail trade. In volume terms, retail sales increased 0.7%.
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25 Oct 2024 |
01:37 |
EUR/USD - 1.0829.... LSEG reported German business morale rose more than expected in October, a survey showed on Friday. The Ifo institute said its business climate index increased to 86.5 in October. Analysts polled by Reuters had forecast a reading of 85.6.
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24 Oct 2024 |
13:47 |
USD/MAJORS... LSEG reported U.S. business activity increased in October amid strong demand, and firms raised prices for goods and services at the slowest pace in nearly 4-1/2 years, indicating that the economy started the fourth quarter in solid shape. S&P Global said on Thursday that its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to 54.3 this month from a final reading of 54.0 in September. A reading above 50 indicates expansion in the private sector. Retail sales data has suggested that economic growth gathered more speed in the third quarter. The survey's flash manufacturing PMI edged up to 47.8 from 47.3 last month. Economists polled by Reuters had forecast the index for the sector, which accounts for 10.3% of the economy, slipping to 47.5. Its flash services PMI rose to 55.3 from 55.2 in September, topping economists' expectations for a reading of 55.0.
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24 Oct 2024 |
13:17 |
EUR/USD - 1.0802... LSEG news, ECB's Kazaks says : - economic weakness suggests we could get to 2% inflation earlier than end 2025 - we should not remain in restrictive territory when we get to target - soft landing story is still there but rebound unclear - services weak, industry not recovering
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24 Oct 2024 |
13:12 |
GBP/USD - 1.2975... LSEG news, BOE's Mann says : - inflation news has been good - service prices still have a long way to go - deceleration in prices might not quite get us to 2% inflation target in medium term
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24 Oct 2024 |
13:05 |
EUR/USD - 1.0799... LSEG reported the European Central Bank shouldn't be "too hasty" in calling off its fight against inflation even after a low reading in September, and should focus on incoming data instead, ECB policymaker Joachim Nagel said on Thursday. "We shouldn't be too hasty, we should be cautious (and) look at what data is coming in," Nagel, the Bundesbank's President, said in an interview with Bloomberg TV.
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24 Oct 2024 |
12:47 |
USD/MAJORS... LSEG news, Fed's Hammack says : - inflation has eased notably but hasn't returned to goal - inflation readings have improved in recent months - Fed policy has helped cool inflation process - longer run inflation expectations have been anchored - inflation has eased amid strong job market, good growth - reasonable to expect more disinflation - housing related inflation could be issue for a while
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24 Oct 2024 |
12:31 |
USD/MAJORS... LSEG news, US jobless claims fell to 227,000 October 19 week (consensus 242,000) from 242,000 prior week (previous 241,000). US continued claims rose to 1.897 million October 12 week (consensus 1.875 million) from 1.869 million prior week (previous 1.867 million).
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24 Oct 2024 |
08:33 |
GBP/USD - 1.2953... LSEG reported British businesses reported their slowest growth in 11 months in October and hiring shrank for the first time this year as uncertainty ahead of the Labour government's first budget dampened confidence, a survey showed. The preliminary S&P Global Flash Composite Purchasing Managers' Index for October fell to 51.7 from September's 52.6, holding above the 50 mark that separates growth from contraction but the lowest since November 2023. A Reuters poll of economists had pointed to another reading of 52.6. The business activity index for the dominant services sector fell to a 11-month low of 51.8, while the manufacturing index slid to a six-month low of 50.3, hit by a sharp contraction in goods orders from abroad. S&P Global said employment this month contracted for the first time since last December led by the sharpest fall in service sector employment in 13 months.
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24 Oct 2024 |
08:01 |
EUR/USD - 1.0798... LSEG reported euro zone business activity stalled again this month, remaining in contractionary territory as demand from both home and abroad fell despite firms barely increasing their prices, a survey showed on Thursday. HCOB's preliminary composite euro zone Purchasing Managers' Index, compiled by S&P Global, nudged up to 49.7 in October from September's 49.6 but remained below the 50 mark separating growth from contraction for a second straight month. A Reuters poll predicted a bigger lift to 49.8.
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24 Oct 2024 |
07:31 |
EUR/USD - 1.0796... LSEG reported German business activity contracted in October but less steeply than the previous month, according to a survey published on Thursday. The HCOB German flash composite Purchasing Managers' Index, compiled by S&P Global, rose to 48.4 from 47.5 in September, beating analysts' forecasts for a reading of 47.6. Any reading below 50 indicates contraction. Business activity in Germany's services sector improved unexpectedly in October, with the index rising to 51.4 from 50.6 in September. Analysts polled by Reuters had expected the figure to remain flat. Manufacturing posted a stronger-than-forecast reading but not enough to shake off its years-long downturn: the index climbed to 42.6 from 40.6 the previous month, higher than a consensus estimate of 40.8.
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24 Oct 2024 |
07:16 |
EUR/USD - 1.0775... LSEG reported France's dominant services sector contracted at its sharpest rate in seven months in October, dragged down by sluggish new orders, a survey of company executives showed on Thursday. The darkening of the business sentiment in the euro zone's second-biggest economy comes as the European Central Bank deliberates the pace of future interest rate cuts after lowering rates this month for the third time this year. The HCOB Flash France Services PMI Business Activity Index, compiled by S&P Global, fell to 48.3 in October from 49.6 in September, well below the reading of 49.9 expected by economists polled by Reuters. Any reading below 50 indicates contraction. The broader French economy also showed signs of strain, with a composite PMI index, combining services and factory activity, falling to a nine-month low of 47.3 from 48.6 in September. Manufacturing continued to struggle, with the output index declining to a nine-month low of 42.5 from 44.0. A sub-index on the business outlook was the most pessimistic since May 2020.
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24 Oct 2024 |
04:44 |
EUR/USD - 1.0791... LSEG reported the European Central Bank (ECB) will probably cut interest rates by a quarter-point in December, Bloomberg News reported on Thursday in an interview with ECB policymaker Robert Holzmann. "I'd say a quarter-point step is probable in December,?Holzmann told Bloomberg. "A bigger half-point cut is unlikely though not impossible. But we might also conclude that preemptively cutting in October might have been sufficient to take a break in December,?Bloomberg reported Holzmann saying.
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24 Oct 2024 |
02:52 |
USD/JPY - 152.35... LSEG reported Japanese Finance Minister Katsunobu Kato said on Wednesday there has been "one-sided, rapid" moves recently seen in the currency market. "It's important for currency rates to move stably. We are closely watching exchange-rate moves with a sense of urgency," Kato told reporters after attending the first-day session of the Group of 20 finance leaders' gathering.
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24 Oct 2024 |
02:06 |
USD/JPY - 152.65... LSEG earlier reported Japan's factory activity contracted for the fourth straight month in October on subdued demand and weak orders, a private-sector survey showed on Thursday. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) declined to 49.0 in October from 49.7 in September. The index stayed below the 50.0 threshold separating growth from contraction for a fourth straight month.
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