US durable goods orders stabilized in August
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European shares rebound 1% today led by the financial sector as Deutsche Bank rebounds after the German bank sold a UK insurance unit and CEO Cryan said that raising capital is currently not an issue. US Equities opened with limited gains.
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"It seems likely to me that further monetary stimulus will be required at some point in order to help ensure that a slowdown in economic activity doesn't turn into something more pernicious", BoE's Shafik said today, adding timing of any fresh easing would depend on the continued evolution of the data over the coming weeks and months.
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US durable goods orders stabilized in August, beating market expectations which were looking for a decline. An increase in transportation orders was offset by a limited drop in other sectors. Shipments however continued to disappoint with the core measure falling for a fourth straight month, a poor signs for business investments in Q3.
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Rating agency Standard & Poor's predicts the process of exciting the EU will knock 2.1 percentage points off UK GDP growth between now and 2018 as it will have a drag on purchasing power and consumption
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Although remaining volatile, Brent crude oil prices edged higher today, hovering around $46.50/barrel on signs that differences are narrowing between Saudi Arabia and Iran and talks are still continuing.
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Fed Chairwoman Yellen testifies to the House Panel on Banking Supervision (16h CET) and also Fed's Bullard, Evans, Mester and George are scheduled to speak later today.
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