Overseas Headlines – November 22, 2024

November 22, 2024

 

United States:

Dollar Set for Longest Run of Gains in a Year Amid Haven Demand

 

The dollar is set for its longest run of weekly gains in more than a year, as escalating geopolitical tensions boost demand for the haven currency.

 

The Bloomberg Dollar Spot Index climbed as much as 0.7% on Friday to the highest level in two years.

 

https://www.bloomberg.com/news/articles/2024-11-22/dollar-set-for-longest-run-of-gains-in-a-year-amid-haven-demand?srnd=phx-markets  

 

Europe:

Euro-Zone Private Sector Unexpectedly Slips into Contraction

 

Euro-area business activity unexpectedly shrank in November, a sign of the damage being wrought by political chaos and heightened discord over trade.

 

The composite Purchasing Managers’ Index by S&P Global slid to 48.1 from 50 in October, dipping back beneath the level that separates growth from contraction.

 

https://www.bloomberg.com/news/articles/2024-11-22/euro-zone-private-sector-unexpectedly-slips-into-contraction?srnd=phx-economics-v2  

 

Asia:

Japan’s Inflation Holds Above BOJ Target Amid Rate Hike Bets

 

Japan’s key inflation gauge held above the central bank’s target even as price gains moderated a tad, in data largely supporting the central bank’s view that underlying inflation remains solid.

 

Consumer prices excluding fresh food rose 2.3% in October from a year earlier, down from 2.4% in September, the Ministry of Internal Affairs reported Friday. That was above the consensus estimate of 2.2%.

 

https://www.bloomberg.com/news/articles/2024-11-21/japan-s-inflation-holds-above-boj-target-amid-rate-hike-bets?srnd=phx-economics-v2   

 

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2024-11-22T09:00:28-05:00