European Manufacturing Boost Euro – ECB to Have Last Word

November 4, 2013 Share Print 0

World stock markets rose on Monday, with the S&P 500 poised to extend a four-week winning streak, while robust European manufacturing data helped the euro recover from a six-week low.

At the same time, a report showing a drop in U.S. business investment in September clouded views on when the Federal Reserve will start withdrawing its stimulus spending.

A decline in euro zone inflation left investors bracing for still easier monetary policy in the 17-country group, with some believing the European Central Bank could reduce its benchmark rate when it meets later this week.

Even an acceleration in European factory production last month was not enough to dash those expectations, as the sector remained fragile compared with historical levels.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.