European equities fall; Germany’s industrial production and business profits are in the forefront of attention and assessed. USD Climbs

Investors digested disappointing German factory output statistics in addition to fresh quarter company earnings on Tuesday, Sending European shares markets broadly negative.

At (09:00 GMT), the DAX indicator was down 0.1 percent, the CAC 40 was down 0.2 percent. Whilst the FTSE 100 in the United Kingdom was unchanged.

German manufacturing capacity falls dramatically.

The manufacturing output decreased higher than predicted in Sept, down 1.4 percent from the prior month. Providing additional proof of Europe’s dismal economic circumstances.

This dismal report implies that the nation’s Q3 GDP growth may be reduced down.  Putting greater strain on the ECB to soften its monetary policy.

Later in the afternoon, European Sept prices for producers are forecast to grow 0.5 percent month on month, but fall 12.5 percent year on year.

Chinese data on trade falls short of expectations.

Eurozone markets had gotten an adverse signal from Asian early in the day. As statistics revealed persistent challenges for China’s economy, the globe’s second biggest.

China’s exports decreased 6.4 percent year on year in Oct.  Following a 6.2 percent dip the previous month. Whilst the nation’s trade surpluses dropped to its lowest point before May of 2022, during the peak of the COVID-19 epidemic.

The reduction in shipments indicated deteriorating international demand, Notably from China’s main trading partners, Europeans and the United States.

US Stock Indices in European Session

The S&P 500 futures ES00, -0.26% lost 11 points, or 0.3 percent, to 4373. While the DJIA YM00, -0.24 percent dropped 82 pts, or 0.2 percent, to 34082, While the Nasdaq 100 index NQ00, -0.22 percent down a total of 32 points, or 0.2 percent, to 15200 zone.

FX – The US dollar rises while the AUD falls as the RBA raises interest rates yet calms its aggressive stance.

The US dollar climbed on Tuesday after risky currencies retreated following the previous week’s surge. Whereas the Australian currency fell following the RBA hiked rates but revised its forecast, fueling views those increases are coming to a stop.

The RBA hiked its benchmark rate by 25 bps on Tue as predicted, to battle persistent inflation. However, investors focused on a change in phrasing in the bank’s announcement and determined that additional increase was improbable.

The AUD fell 1.06 percent to a bottom at $0.642 & last traded at $0.6434 mark. The asset appeared on track to suffer its largest a single day % drop in a month.

The DXY increased 0.1 percent to 105.38 versus an array of FX assets. Following a 0.2 percent rise on Monday. Though stayed close to an almost 2-month trough of 104.84 mark.

This past week, the index plummeted 1.3 percent, its worst drop until the middle of July. An important correction following a previous surge upward.

The euro’s value was trading at $1.070, off 0.15 percent from its 8-week high of $1.0756 set on Monday. GBP last traded at $1.2327, off 0.1 percent on the day’s trading. But barely below the 7-week peak of $1.2428 set on yesterday

The yen was trading at 150.28 / US dollar, returning below the 150-degree.  Which has had investors on strain in the last few weeks while they wait for evidence of Japanese involvement.

European FX Currency Pairs

Crude oil falls as a result of bad China’s trade figures.

The price of crude dipped on Tuesday after weak Chinese trade figures. Fanned fears about decreasing demand in the globe’s top oil consumer.

The exports decreased exceeding projections in October due to weakening international demand. Whereas imports unexpectedly increased.  Causing the nation’s trade surplus to contract to its lowest level in seventeen months.

This protracted slowdown in exports may hinder growth in the future in the nation while reducing oil consumption

OIL (WTI) Price

79.24-1.58     -1.95%

79.08

Day Low

81.15

Day High