International Markets Update

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• The Federal Reserve unexpectedly refrained from reducing the $85 billion pace of monthly bond buying. Payrolls in the U.S. climbed less than pr.....

Executive Summary

• The Federal Reserve unexpectedly refrained from reducing the $85 billion pace of monthly bond buying. Payrolls in the U.S. climbed less than projected in August. • American producers are leading a global manufacturing recovery that stretches from China to Europe as their economies improve. • The ECB kept its rates unchanged at 0.5% as the Euro area returned to growth in the second quarter. In the UK, the trade deficit widened to £9.9 billion in July as exports slumped. • In France consumer confidence improved marginally showing a small pickup. In Japan, inflation accelerated at its fastest pace since 2008. • Fears of financial turbulence in emerging markets were triggered by worries that the US may soon taper its economic stimulus. • China, the world’s second biggest economy, showed signs of a recovery after announcing a number of favorable economic reports in September. India’s economic advisory council lowered the nation’s growth outlook for the current financial year to 5.3% from earlier projections of 6.4%.

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International Markets Update

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