◾An ineffective, fractious and fiscally irresponsible government has slowed the US recovery and counteracted the simulative effects of the Fed's monetary policy, Dallas Fed President Fisher said during the weekend, while showing concerns that corporate credit spreads have narrowed too much.
◾ China's official non-manufacturing PMI jumped in October to 56.3 from 55.4, the highest level this year, providing further evidence that the nation's economic rebound is sustaining momentum. On Friday, also Chinese manufacturing surveys surprised on the upside of expectations.
◾ Fitch Ratings upgraded on Friday Spain's outlook from negative to stable and affirmed the country's BBB rating, citing progress in cutting the deficit, a sooner than expected return to growth and economic reform efforts.
◾ Oil futures dropped sharply on Friday, closing at their lowest levels since August despite strong manufacturing surveys from both China and the United States. Brent crude oil prices fell to $106/barrel, down from opening levels around $109/barrel.
◾Today, the eco calendar contains the final reading of the euro zone manufacturing PMI's and the US factory orders for both August and September. Japanese markets are closed in observance of Culture Day holiday
◾ China's official non-manufacturing PMI jumped in October to 56.3 from 55.4, the highest level this year, providing further evidence that the nation's economic rebound is sustaining momentum. On Friday, also Chinese manufacturing surveys surprised on the upside of expectations.
◾ Fitch Ratings upgraded on Friday Spain's outlook from negative to stable and affirmed the country's BBB rating, citing progress in cutting the deficit, a sooner than expected return to growth and economic reform efforts.
◾ Oil futures dropped sharply on Friday, closing at their lowest levels since August despite strong manufacturing surveys from both China and the United States. Brent crude oil prices fell to $106/barrel, down from opening levels around $109/barrel.
◾Today, the eco calendar contains the final reading of the euro zone manufacturing PMI's and the US factory orders for both August and September. Japanese markets are closed in observance of Culture Day holiday
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