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Weekly Market Report

02 Dec 2019

02 December 2019

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The Market Last Week

Global equities ended mostly firmer last week, amid optimism over US-China trade agreement.


UK Markets ended the week in positive territory, amid US-China trade deal hopes and ahead of general elections in Britain this month.

UK’s Nationwide house prices rose at its fastest pace in seven months on a monthly basis in November.

Net consumer credit increased more than market consensus in October.

The BBA mortgage approvals dropped to its lowest level in 7 months in October.

The BRC shop price index declined for the sixth successive month on an annual basis in November.

In the UK, the number of mortgage approvals for house purchases decreased more than market forecast in October.

The GfK consumer confidence remained unchanged at its lowest level since 2013 in November.




European Markets ended the week on a positive footing, amid signs of progress in the US-China trade talks.

Eurozone’s consumer confidence index improved in November.

In the Eurozone, the consumer price index (CPI) advanced on a yearly basis in November.

Economic sentiment indicator in the Eurozone jumped more than market anticipations in November.

Eurozone’s unemployment rate declined to its lowest since July 2008 in October.

The business climate indicator in the Eurozone unexpectedly declined in November.

Germany’s CPI advanced less than market expectations on an annual basis in November.

The Ifo business expectations index in Germany rose less than market consensus in November.

Germany’s retail sales dropped on a monthly basis in October.

The GfK consumer confidence index in Germany unexpectedly rose in December.

Germany’s Ifo current assessment index advanced in line with market anticipation in November.

The Ifo business climate index in Germany advanced meeting market expectations in November.

Germany’s unemployment rate remained unchanged in November.




US Markets ended the week in green, amid growing confidence that a US-China trade deal would be finalised soon.

The US annualised GDP rose on a quarterly basis in the third quarter of 2019.

The Dallas Fed manufacturing business index unexpectedly rose in November.

Advance goods trade deficit narrowed to its lowest level in 17 months in October.

The housing price index rose more than market consensus on a monthly basis in September.

New home sales dropped less than market expectations on a monthly basis in October.

The Richmond Fed manufacturing index fell at par with market anticipations in November.

Initial jobless claims dropped more than market expectations in the week ended 22 November 2019.

Personal spending rose in line with market forecast for the eighth consecutive month in October.

Durable goods orders unexpectedly increased on a monthly basis in October.

The CB consumer confidence fell for the fourth consecutive month in November.

Personal income remained flat on a monthly basis in October.

Pending home sales unexpectedly fell on a monthly basis in October.

The MBA mortgage applications rebounded on a weekly basis in the week ended 22 November 2019.

The Chicago Fed National Activity Index unexpectedly declined in October.




Asian Markets ended mostly weaker last week, after the US President Donald Trump signed into law backing Hong Kong protestors.

Japan’s Tokyo CPI rose more than market consensus on a yearly basis in November.

Unemployment rate in Japan remained steady in October.

Japan’s industrial production declined more than market forecast on a monthly basis in October.

Retail trade in Japan fell more than market consensus on a yearly basis in October.

Japan’s leading economic index remained unchanged in September.

Australia’s private sector credit demand rose less than market anticipations on a monthly basis in October.

The AiG performance of manufacturing index in Australia dropped in November.

Australia’s building approvals fell more than market forecast on a monthly basis in October.

The Commonwealth Bank manufacturing PMI in Australia declined at par with market forecast in November.

China’s Caixin manufacturing PMI unexpectedly rose in November.

The NBS manufacturing PMI in China advanced more than market expectations in November.




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Currency Update

The EUR ended lower against the USD last week, despite upbeat Eurozone's inflation data.
The British Pound ended stronger against the greenback in the earlier week, ahead of the general elections in UK this month.
The US Dollar ended mostly higher against its major counterparts last week, after the US economy grew as expected in 3Q19.


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Beige Book: US economic activity expands modestly, labour market remains tight

The US Federal Reserve’s (Fed) Beige Book report showed that the US economy expanded “modestly” from October through mid-November and highlighted an optimistic outlook for the economy. Further, the report revealed that although labour market remained tight across the country, employment continued to rise slightly. With regards to inflation, the report indicated that prices rose at a modest pace during the reporting period.


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The Week Ahead

Going ahead this week, investors will keep a tab on the US manufacturing PMI, ISM manufacturing PMI, mortgage applications, services PMI, ISM non-manufacturing PMI, NFIB business optimism index, factory orders, nonfarm payrolls and ADP employment change along with UK’s GDP, trade balance, manufacturing and industrial production for further direction. Additionally, the ZEW survey indices in the Eurozone and Germany, the Eurozone’s Sentix investor confidence index along with Germany’s trade balance will be on investors’ radar.


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