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Inventory levels threaten to trigger a price breakdown

Published Thursday, November 12th, 2015

Financial assets once again struggled for direction amid another light session of global economic reports in which news that Chinese consumers spent a record amount online on Singles’ Day grabbed all the headlines. The little data that was made available was largely brushed off by investors who gave a mixed batch of economic indicators out of China a muted response. Meanwhile, the lack of upside catalysts was compounded by softer oil prices which weighed on energy shares and saw Wall St edge lower despite a slightly more upbeat performance on its European and Asian counterparts.

Over in Europe the guardians of monetary policy took centre stage as Mark Carney entertained members of the public at the BoE’s Open Forum. He did his best to restore trust in the financial sector and claimed that recently introduced reforms had gone someway to boosting integrity and accountability across the industry. His comments came as UK jobs data showed the unemployment rate dipping to a post-2008 low of 5.3%, although wage growth figures missed expectations. Not one to be left out, the ECB’s Mario Draghi also made an appearance at the conference in which he stressed the need for a banking union and is scheduled along with the Fed’s Janet Yellen to make separate speeches at events later today.

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.