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Posts Archive
Japan’s Capital Spending Jumps as Firms Surprisingly Bullish
Japanese businesses ramped up investment in the final quarter of 2023, an indication that firms were more bullish than indicated in overall growth figures for the period released last month.
Capital expenditures on goods excluding software rose 8% in the three months through December compared with the previous quarter, the finance ministry reported Monday. From a year earlier, the outlays gained 11.7%.
The yen edged higher as the Nikkei 225 stock average broke above 40,000 for the first time.
Nikkei 225 - TO THE CHART
https://app.libertex.com/products/indexes/NIY/
Source: bnnbloomberg.ca
For more information click here:
The strongest major currency is currently GBP, and the weakest major currency is currently JPY.
Biggest upward move 📈 GBP/USD, GBP/JPY, GBP/SEK
Biggest downward move 📉 USD/CHF, NZD/CHF, USD/ZAR
Sources: MarketMilk, Libertex #TALibertex #currencyst
❗️Happened on Friday:
* China's manufacturing activity in February shrank for a fifth straight month.
* The Spanish, Italian and French Manufacturing PMI all increased, whereas the German Manufacturing PMI declined in February.
* Euro zone CPI failed to move needle for ECB rate outlook.
* US Manufacturing PMI went up in February and was higher than expected.
* Deutsche Bank announced that the share buyback program recently approved by the European Central Bank will commence on March 4, 2024.
* Hewlett Packard Enterprise stock shed 4.4% following a mixed earnings report.
* Tesla was rolling out more incentives in China as it tries to compete in the world’s largest EV market.
Source: Libertex #tobeready
Lagging Indicator: Economic, Business, and Technical
#EducationLibertex
Key points:
* A lagging indicator changes after a change in the economic, financial, or business variable with which it is correlated.
* Some examples of lagging economic indicators include the unemployment rate, corporate profits, and labor cost per unit of output.
* Lagging technical indicators trail the price action of an underlying asset and are used to generate signals or confirm the strength of a trend.
* In business, lagging indicators reflect the impact of past management decisions or changes in business strategy.
* Lagging indicators differ from leading indicators, such as retail sales and the stock market, which are used to forecast and make predictions.
Full article: https://www.investopedia.com/terms/l/laggingindicator.asp
Sources: Investopedia
Stocks making the biggest moves premarket according to CNBC
Hewlett Packard Enterprise — The information technology stock shed 4.4% following a mixed earnings report for the fiscal first quarter. The company topped analysts’ expectations for earnings per share by 3 cents, according to LSEG. But Hewlett Packard posted $6.76 billion in revenue, under the Wall Street forecast of $7.11 billion. The firm also gave weaker guidance for the current quarter.
#premarket
European CPI ticks higher, a warning of inflation pressure to come
Eurozone inflation data for February has surprised to the upside, with the headline CPI estimate falling to 2.6%, which is higher than the 2.5% expected, the monthly rate also rose by 0.6%, this is an increase of 1% compared to January, when the monthly rate of inflation was -0.4%. Core prices didn’t ease by as much as expected last month.
Why central banks will maintain their cautious tone
The moderation in CPI and PCE in the Eurozone and the US, caused some traders to question if US and Europe will cut interest rates sooner and faster than what is currently priced in.
Source: fxstreet.com
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UK manufacturing slump persists amidst Red Sea crisis
The UK manufacturing sector's downturn persisted in March, with the S&P Global UK Manufacturing Purchasing Managers' Index (PMI) at 47.5, slightly up from February's 47.0.
According to the report, the sector issues continued through February 2024, as weak demand and the ongoing crisis in the Red Sea compounded challenges, disrupting production and vendor delivery schedules. Manufacturers reported that these disruptions have increased costs as they seek alternative suppliers from more expensive, closer markets.
Source: teletrader.com
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The strongest major currency is currently EUR, and the weakest major currency is currently JPY.
Biggest upward move 📈 USD/JPY, GBP/JPY, NOK/JPY
Biggest downward move 📉 AUD/USD, EUR/GBP, USD/NOK
Sources: MarketMilk, Libertex #TALibertex #currencyst
China’s Factory Activity Slows Again, Highlighting Limits of Government Measures
Fifth straight month of contraction in manufacturing sector comes as top officials gather in Beijing to outline policy priorities for the year ahead
China’s vast manufacturing sector remained in contraction for a fifth consecutive month in February, underscoring the difficulties facing the country’s leadership as it seeks to support a faltering economy, and raising hopes for bolder policy moves when top officials gather for annual legislative meetings next week.
An official gauge of China’s factory activities edged down to 49.1 from January’s 49.2, the country’s National Bureau of Statistics said Friday. A reading below 50 indicates a contraction in activity while a reading above that mark suggests an expansion.
Source: wsj.com
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TOP NEWS 01/03/2024
#HotnewsLibertex
Important:
🇪🇺 EU - Consumer Inflation CPI (feb-preliminary) - 11:00 CET
🇺🇸 USA - Manufacturing PMI (feb) - 15:45 CET
🇺🇸 USA - ISM Manufacturing PMI (feb) - 16:00 CET
🇺🇸 USA - Michigan Consumer Sentiment (feb) - 16:00 CET
Economy:
🇨🇭 Switzerland - Manufacturing PMI (feb) - 09:30 CET
🇩🇪 Germany - Manufacturing PMI (feb) - 09:55 CET
🇪🇺 EU - Manufacturing PMI (feb) - 10:00 CET
🇬🇧 UK - Manufacturing PMI (feb) - 10:30 CET
🇨🇦 Canada - Manufacturing PMI (feb) - 15:30 CET
🇺🇸 USA - Consumer inflation expectations (feb) - 16:00 CET
🇺🇸 USA - Construction spending (jan) - 16:00 CET
🇺🇸 USA - Logan (FED) - 16:15 CET
🇺🇸 USA - Waller (FED) - 16:15 CET
🇺🇸 USA - Bostic (FED) - 18:15 CET
🛢 Oil-gas - Baker Hughes oil rigs - 19:00 CET
🇺🇸 USA - Daly Speaks (FED) - 19:30 CET
❗️Happened Yesterday:
* German retail sales and CPI (Consumer Price Index) inflation unexpectedly declined in January.
* German Unemployment Change - The number of people out of work increased more than expected in February.
* US Core PCE Price Index rose in another downbeat inflation report.
* US Initial Jobless Claims increased more than estimated last week.
* US stocks rose after key inflation data; corporate earnings in focus.
* AMC Entertainment shares shed more than 10%. The movie theater stock topped Wall Street revenue estimates but posted a bigger-than-expected loss.
* Bitcoin set for biggest monthly jump since 2020 amid ETF boost.
Source: Libertex #tobeready
