The ECB will provide stimulus until a sustained inflation rebound
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European equities trade marginally lower as European and US macro data failed to give clear guidance. Major US equity indices opened marginally stronger on mixed earnings.
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The ECB will provide stimulus until a sustained inflation rebound, even as its unprecedented measures come with side effects and face constraints, two policymakers said (Coeure and Lane).
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Euro zone economic sentiment was much better than expected in October driven by higher optimism in industry and services. The EC's economic sentiment indicator rose to 106.3 in October from 104.9 in September, well above market expectations of a small decline to 104.8.
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The American economy expanded at a 2.9% annualised rate in the third quarter, a rise from 1.4% notched in the second quarter, according to a first reading on gross domestic product from the Commerce Department. Economists expected a reading of 2.6%.
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Inflation in Germany rose to its highest level in two years in October, in the latest sign of strength in Europe's largest economy. Prices rose 0.7% Y/Y in October, the fastest rate of increase since October 2014.
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Shares in brewing behemoth Anheuser‐Busch InBev are among the biggest fallers in Europe on Friday morning, after its earnings missed expectations in the third quarter, dragged down by slumping demand in Brazil.
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Turkey's currency has hit a fresh record low against the dollar and is still sliding this morning, after being hit with a double whammy of disappointing tourism statistics and higher inflation forecasts yesterday
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