South Africa Inflation Rate Slips to Near 4-Year Low
South Africa’s annual inflation rate fell for the 5th straight month in October, hitting a near four-year low of 2.8%, down from 3.8% in the prior month. Figures came slightly below market forecasts of 3.1%. Falling fuel prices remain the primary factor behind the slowdown. Petrol and diesel prices declined by 5.3% between September and October, taking the annual rate for fuel to -19.1%. Additionally, prices moderated for some CPI items, including restaurants & hotels (5.9% vs 7.4% in September); food & non-alcoholic beverages (3.6% vs 4.7%), alcoholic beverages & tobacco (4.5% vs 4.7%) and health (4.8% vs 5.1%). On a monthly basis, consumer prices edged down by 0.1% in October, marking the first decrease in almost a year, following a 0.1% increase in September.
5 min ago
European Stocks Rebound
The Stoxx 50 and the Stoxx 600 traded more than 0.5% higher on Wednesday, recovering from losses in the previous session as geopolitical concerns related to the Russia-Ukraine war gradually subsided. On Tuesday, financial markets were shaken after Russia lowered the threshold for a nuclear strike, while Ukraine launched US-made missiles into Russia’s border region. However, tensions eased after Russian Foreign Minister Sergei Lavrov stated that the country would “do everything possible” to avoid nuclear war, and the US indicated it saw no reason to adjust its nuclear policy. Meanwhile, data showed that UK inflation accelerated more than expected in October.
18 min ago
Danish GDP Growth Slightly Eases in Q3
Denmark’s economy advanced by 1.2% on quarter in the third quarter of 2024, slightly easing from an upwardly revised 1.3% growth in the previous period, a preliminary estimate showed. It was the second straight quarter of expansion, driven mainly by the pharmaceutical industry. On the expenditure side, both household consumption (0.3% vs -0.4% in Q2) and government spending (0.5% vs -0.1%) rebounded. Meanwhile, fixed investments slowed (0.9% vs 1.8%), particularly in housing (1.9% vs 4.2%), other construction and facilities (1.2% vs 3.1%), and a decline in intellectual rights (-1% vs 0.3%). At the same time, net external demand contributed negatively to the GDP, as imports dropped 0.7%, while exports were unchanged. On an annual basis, the GDP grew 3.4% in Q3, accelerating from a 3.4% rise in the preceding quarter.
46 min ago
Indonesia Leaves Rates Steady as Expected
The Bank of Indonesia maintained its interest rate at 6% during its November 2024 meeting, as widely expected. This decision aims to bolster the stability of the Rupiah in response to rising geopolitical and global economic uncertainties, particularly developments in the United States. It also seeks to ensure that inflation remains within the target range of 2.5±1% for 2024 and 2025, while supporting sustainable economic growth. The Rupiah depreciated by 0.84% month-on-month, driven primarily by the widespread strengthening of the U.S. dollar and a global shift in investor preferences toward U.S. assets following the outcomes of the U.S. elections. Meanwhile, Indonesia’s annual inflation rate eased to 1.71% in October 2024 from 1.84% in the previous month. This marked the lowest reading since October 2021 and remained well within the central bank’s target range. The overnight deposit and lending facility rates were also held at 5.25% and 6.75%, respectively.
47 min ago
German Producer Prices Fall at Softer Pace
Producer prices in Germany shrank 1.1% year-on-year in October 2024, following a 1.4% fall in the previous month, matching market forecasts. This marks the 16th consecutive period of producer deflation, dragged by a sharp decline in energy prices (-5.6%), with costs falling for mineral oil products (-12.9%), light heating oil (-22.7%), fuels (-12.1%), natural gas (-10.1%), and electricity (-7.3%). Excluding energy, producer prices increased by 1.3%. Meanwhile, the biggest price increases were seen in capital goods (2.0%), boosted by higher costs for machinery (2.0%) and motor vehicles and parts (1.4%). Prices also advanced for consumer goods (1.9%), durable goods (0.9%), and intermediate goods (0.4%). On a monthly basis, producer prices rose by 0.2%, rebounding from a 0.5% drop in September, matching market estimates.
75 min ago
China Holds LPR Rates Steady as Expected
The People’s Bank of China (PBoC) retained its key lending rates at the November fixing, in line with market estimates. The one-year loan prime rate (LPR), the benchmark for most corporate and household loans, was maintained at 3.1%. Meanwhile, the five-year rate, a reference for property mortgages, was held at 3.6%. Both rates remain at record lows following rate reductions in October and July. The latest decision reflected the PBoC's ongoing assessment of existing stimulus measures. Since late September, Beijing has ramped up efforts to reverse an economic slowdown and achieve the 2024 growth target of around 5%, despite prolonged property sector weakness, low consumer and business confidence, and persistent deflation risks. The central bank is expected to launch more policy-easing measures in the coming months. In October, Governor Pan Gongsheng said the central bank might reduce the reserve requirement ratio by another 25 to 50bps by year-end, contingent on liquidity conditions.
7 hours ago
ActualChg%Chg
Crude Oil 69.506 0.27 0.38%
Brent 73.581 0.27 0.37%
Natural gas 3.0425 0.04 1.48%
Gasoline 2.0546 0.02 0.98%
Heating Oil 2.2395 0.00 0.21%
Gold 2621.75 13.24 -0.50%
Silver 30.925 0.36 -1.15%
Copper 4.1515 0.02 0.52%
Soybeans 993.24 5.26 -0.53%
Wheat 549.04 0.71 -0.13%
Coal 141.25 0.50 -0.35%
Steel 3335.00 4.00 -0.12%
Iron Ore 101.89 0.13 0.13%
TTF Gas 45.50 0.41 -0.89%
Lumber 615.56 9.92 1.64%
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ActualChg%Chg
EURUSD 1.05757 0.0031 -0.30%
GBPUSD 1.26938 0.0000 0.00%
AUDUSD 0.65205 0.0021 -0.31%
NZDUSD 0.58929 0.0026 -0.44%
USDJPY 155.683 0.9650 0.62%
USDCNY 7.24409 0.0109 0.15%
USDCHF 0.88435 0.0023 0.26%
USDCAD 1.39652 0.0010 0.07%
USDMXN 20.1163 0.0084 0.04%
USDINR 84.3860 0.0101 -0.01%
USDBRL 5.77310 0.0253 0.44%
USDRUB 100.3501 0.2217 -0.22%
USDKRW 1393.94 0.5900 0.04%
USDTRY 34.4958 0.0054 -0.02%
DXY 106.406 0.3058 0.29%
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ActualChg%Chg
US500 5934.78 18 0.30%
US30 43447 178 0.41%
US100 20748 63 0.31%
JP225 38509 95 0.25%
GB100 8114 15 0.18%
DE40 19187 127 0.67%
FR40 7273 43 0.60%
IT40 33453 128 0.38%
ES35 11668 80 0.69%
ASX200 8343 31 -0.37%
SHANGHAI 3369 23 0.67%
SENSEX 77578 239 0.31%
TSX 25011 34 0.14%
MOEX 2640 10 0.37%
IBOVESPA 128197 429 0.34%
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ActualChg%Chg
Apple 228.29 0.43 0.19%
Tesla 345.89 7.08 2.09%
Microsoft 417.56 2.23 0.54%
Amazon 204.62 3.06 1.52%
Meta 561.35 7.28 1.31%
Nvidia 146.82 6.89 4.92%
Visa 311.83 0.37 -0.12%
JPMorgan 242.82 2.09 -0.85%
Intel 24.20 0.64 -2.58%
J&J 152.84 1.87 -1.21%
P&G 170.81 0.01 0.01%
Exxon Mobil 118.57 1.66 -1.38%
3M 128.05 2.00 -1.54%
Goldman Sachs 581.41 5.94 -1.01%
Caterpillar 382.19 1.92 -0.50%
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ActualChg%Chg
United States 4.4240 0.022 0.02%
United Kingdom 4.4870 0.047 0.05%
Japan 1.0700 0.005 0.01%
Australia 4.6330 0.017 0.02%
Germany 2.3670 0.030 0.03%
Brazil 12.9250 0.025 0.03%
Russia 16.2900 0.530 0.53%
India 6.8480 0.008 -0.01%
Canada 3.3325 0.057 0.06%
Italy 3.5720 0.020 0.02%
France 3.1070 0.028 0.03%
South Africa 9.2530 0.168 0.17%
China 2.0960 0.002 0.00%
Switzerland 0.4010 0.034 0.03%
Chile 5.5300 0.000 0.00%
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ActualChg%Chg
Bitcoin 93134 741 0.80%
Ether 3123.90 8.0410 0.26%
Binance 611.8 3.7900 -0.62%
Cardano 0.79671 0.0575 7.77%
Solana 238.0900 0.1438 0.06%
Ripple 1.09132 0.0114 -1.03%
Polkadot 5.91 0.1189 2.05%
Avalanche 34.33 0.0677 -0.20%
Polygon 0.43 0.0045 -1.02%
Cosmos 6.36 0.0775 1.23%
Dai 1.00004 0.0002 0.02%
Litecoin 85.830 1.1300 -1.30%
Uniswap 9.15 0.2524 -2.68%
Algorand 0.22 0.0045 2.06%
Bitcoin Cash 441.34 6.6000 -1.47%
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