Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
The UK economy has been beating expectations so far. While economists have been expecting a major downturn, the economy has been standing out pretty well, except for the initial downbeat economic sentiment reading. The economy has been fairing so well that the Citi’s economic surprise index has moved to a fresh 3-year high after the release of last week’s data. It has jumped from less than 50 to 72.2 after last week’s data releases.
- Earlier this month, BRC retail sales monitor showed sales grew by 1.1 percent in July, while expectations were for a decline.
- Last week, unemployment report showed that the rate is steady at 4.9 percent. Average earnings including bonus rose by 2,4 percent.
- Last Thursday, retail sales report showed, in July, sales grew by 1.5 percent.
- Even today, Industrial trend survey report came much better than expected.
Though it is too early to conclude on the impact of the Brexit, it would be fair to say that Uk economy is holding up pretty well in the immediate aftermath.
These better than expected results along with weaker USD has pushed pound higher, which is currently trading at 1.319 against the dollar.
