Currencies
Meanwhile, they reckon it s close to an even bet as to whether the UK economy or the euro area will fall into a slump first. It s a closely watched experiment.Also important for financial stability is the strength of the dollar. Its recent weakness is not solely a result of the strong dollar. Emerging markets, not rich nations, are surviving dollar s wrath.
Oil
Then everyone could get back to trying to deal with potentially even greater problems concerning China, Russia, Italy, the oil market, and so on. OPEC+ countries are attempting to push up the price of oil, to an outraged response from Washington.
United States
Midterm elections in the US may well change the balance of power in a country that is growing ever more terrifyingly polarized. The Nasdaq’s forward earnings ratio dropped below 10 times in 2002, the year the tech gauge bottomed, according to data compiled by Bloomberg. Coming Up European stocks are poised to drop following bleak sessions in Asia and Wall Street, and as traders assess messaging from China s Communist Party congress. Only 7% saw the US becoming the first economy to crack.
China
Stand Its Ground President Xi Jinping had a clear message to those who want to thwart China s rise: You will fail.
Europe
EU foreign ministers meet in Luxembourg amid Russia s intensifying mobilization efforts for its war on Ukraine. Ministers will also discuss whether the EU’s policy towards China needs to be refreshed. Brexit pitfalls are no longer taboo in UK politics. (Hunt and Wallace voted to remain in the EU, Mordaunt and Sunak to leave.)
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