Global equities ended mostly firmer last week, amid hopes over a potential Covid-19 vaccine and expectations of further stimulus from the US Federal Reserve (Fed).
UK Markets ended the week in negative territory, amid strength in the British Pound and mounting concerns over post-pandemic economic recovery.
UK’s CBI distributive trade survey's retail sales balance unexpectedly fell on a monthly basis in August.
Bank of England (BoE) Governor, Andrew Bailey, in his speech at the Jackson Hole central bank symposium, argued that with the £200 billion bond-buying operation which the central bank unleashed in March had shown the value of “going big and fast” with quantitative easing. Further, he suggested that it might be necessary for the central bank to start unwinding its asset purchase programme before it raised rates, to make sure it had enough “headroom” to intervene decisively with a rapid burst of quantitative easing when the next crisis struck.
European Markets markets ended the week on a positive footing, after Germany extended its coronavirus relief package.
Eurozone’s economic sentiment indicator improved in August.
In the Eurozone, the services sentiment indicator rose more than market forecast in August.
Eurozone’s industrial confidence index climbed more than market consensus in August.
In the Eurozone, the final consumer confidence index advanced in August.
Eurozone’s business climate indicator rose less than market anticipations in August.
Germany’s economy contracted less than initially estimated on a quarterly basis in 2Q20.
Germany’s Ifo current assessment index rose more than market consensus in August.
In Germany, business climate index advanced more-than-expected in August.
Germany’s Ifo business expectations index rose less-than-anticipated in August.
In Germany, the GfK consumer confidence index unexpectedly dropped in September.
US Markets ended the week in green, after the Fed announced a new strategy to restore full employment and lift inflation.
US new home sales climbed in July, marking its highest level since December 2006.
The Richmond Fed manufacturing index rebounded in August.
US housing price index advanced on a monthly basis in June.
The Kansas City Fed manufacturing activity index advanced in August.
US pending home sales rose more than market anticipations in July.
The final Michigan consumer sentiment index climbed in August.
In the US, personal income rose more than market consensus in August.
Personal spending rose more-than-expected in August.
US durable goods orders climbed more-than-anticipated in July.
US initial jobless claims dropped less than market forecast on a weekly basis in the week ended 21 August 2020.
The CB consumer confidence index declined for the second consecutive month in August, recording its lowest level since 2014.
The MBA mortgage applications fell on a weekly basis in the week ended 21 August 2020.
US gross domestic product (GDP) plunged on a quarterly basis in 2Q20.
The Chicago Fed Purchasing Managers’ Index (PMI) unexpectedly fell in August.
The Chicago Fed National Activity Index dropped more than market forecast in July.
Asian Markets ended mostly firmer last week, as geopolitical tensions eased between the US and China.
Australia’s private sector credit demand advanced on an annual basis in July.
China’s NBS manufacturing PMI dropped less than market expectations in August.
In China, the non-manufacturing PMI unexpectedly rose in August.
Japan’s corporate service price index advanced on an annual basis in July.
In Japan, the final coincident index rose in June.
Japan’s final leading economic index climbed in June.
In Japan, industrial production advanced more-than-expected on a monthly basis in July.
Japan’s seasonally adjusted retail trade unexpectedly fell in July.