- A cautious mood prevailed in European equity markets on Thursday as investors looked ahead to the U.S. Federal Reserve Chairman Jerome Powell’s outlook on monetary policy.
The pan-European STOXX 600 index slipped 0.3%, with banks .SX7P being the biggest drags after HSBC fell 2.2%. The British bank came under fresh U.S. criticism on Wednesday for its reported treatment of customers linked with the pro-democracy movement in Hong Kong.Investors will be looking for clues on the U.S. central bank’s new strategy for meeting its price stability and maximum employment goals amid a deep economic crisis caused by the coronavirus pandemic. Powell is set to speak at 1310 GMT.
European Central Bank chief economist Philip Lane is also scheduled to speak at the virtual Jackson Hole meeting.posted minimal losses as data showed profit at China's industrial firms grew for a third straight month in July and at the fastest pace since June 2018.Barring the German manufacturing sector, recent data has pointed to the plateauing of an economic recovery in the euro zone as several countries see a resurgence in coronavirus cases.
Eventually, all the US currency being generated out of thin air to make up for loss of revenue from corporate tax cuts and now the pandemic, is going to collapse the economy. The inflation will be violent.
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Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »