Euro zone industrial output growth accelerated in October, bolstering views that the bloc is picking up momentum as trade uncertainty is dissipating, the labour market remains tight and consumption is inching up. Industry expanded by 0.8% on the month after a 0.2% increase in September, in line with expectations, data from the EU's statistics agency Eurostat showed on Monday.
European Union leaders meet for one last push to secure a deal and fund Ukraine with frozen Russian cash, while the United States releases overdue labour market and retail sales data. Meanwhile, central banks in the euro zone, Japan, Britain, Norway, and Sweden hold their last get-together of the year.
* Central banks including ECB, BOJ, BOE, Riksbank and Norges Bank due to meet. * Delayed US data including jobs and inflation to resume. * China Vanke bondholder vote renews concerns around property sector. By Lawrence White.
* BoE, ECB, BOJ to announce rate decisions. * US nonfarm payrolls, inflation data due. * Yen rises; pound and euro steady. * Trump says leaning towards Warsh or Hassett for Fed Chair. By Rae Wee and Amanda Cooper.
Swiss economic growth will slow in 2026, the KOF Institute at ETH in Zurich forecast on Monday, as the positive impact of the agreement to reduce U.S. tariffs is offset by a deterioration in the international outlook. For 2025, KOF expects the Swiss economy to grow by 1.4%, when the effect of sporting events is removed, before slowing to 1.1% in 2026 and then rising to 1.7% in 2027.
Euro zone government bond yields slipped on Monday as investors braced for a week packed with central bank policy meetings and Tuesday's U.S. jobs data that may shape the Federal Reserve's policy outlook. The European Central Bank and the Bank of England will hold their meetings on Thursday while the Bank of Japan will announce its decision on Friday.
* Russian central bank files claim in Moscow court. * Seeks $230 billion from Euroclear over seized assets. * EU wants to use Russian assets for loan to Ukraine. * Russia has warned of retaliation over 'theft' of assets. By Elena Fabrichnaya and Gleb Bryanski.
A rare event of two G7 central banks moving in opposite directions on interest rates this week might seem like a slam-dunk currency bet. But the sterling/yen cross has ignored the narrowing UK-Japan rate gap all year. Since the middle of last year, the difference between the main policy interest rates of the Bank of Japan and Bank of England has narrowed by 165 basis points.
* BoE, ECB, BOJ set to announce rate decisions. * US nonfarm payrolls, inflation data due. * Yen rises; New Zealand dollar falls. * Trump says leaning towards Warsh or Hassett for Fed Chair. By Rae Wee.
Japanese government bonds were little changed in quiet and largely directionless trading on Monday, ahead of an expected Bank of Japan interest rate hike later in the week. The 10-year JGB yield lost 0.5 basis point to 1.945%, hovering not far from an 18-year high of 1.97% reached a week earlier.
* BoE, ECB, BOJ announce rate decisions this week. * US nonfarm payrolls, inflation data due. * Dollar holds near two-month low; euro, sterling steady. * Trump says leaning toward Warsh or Hassett for Fed Chair. By Rae Wee.
Gold extended gains on Monday, supported by a weaker dollar and softer U.S. Treasury yields, as investors looked ahead to key U.S. jobs data for clues on the Federal Reserve's policy path, while silver steadied after a record-breaking run last week. Spot gold rose 0.4% to $4,320.65 an ounce by 0319 GMT. U.S. gold futures gained 0.6% to $4,354.00 an ounce.
* Central banks including ECB, BOJ, BOE, Riksbank and Norges Bank due to meet. * Delayed US data including jobs and inflation to resume. * China Vanke bondholder vote renews concerns around property sector. By Gregor Stuart Hunter.
China's factory output growth slowed to a 15-month low, while retail sales posted their worst performance since the country abruptly ended its draconian "zero-COVID" curbs, highlighting the urgent need for new growth drivers heading into 2026.
* Factory output, retail sales grow at weakest pace in over a year. * Data highlight weak domestic demand, record trade surplus. * Policymakers face rising calls to reduce export reliance. * China growth expected to remain weak in 2026. By Joe Cash.
China's industrial output in November rose 4.8% year-on-year, slowing from the 4.9% growth in October, while retail sales growth slowed, official data showed on Monday. The industrial output data, released by the National Bureau of Statistics, missed a 5.0% increase forecast in a Reuters poll.
Property investment in China fell 15.9% year-on-year in the first 11 months, widening from the 14.7% drop in the January-to-October period, official data showed on Monday. Property sales by floor area declined 7.8% year-on-year, after falling 6.8% in the first 10 months. New construction starts measured by floor area dropped 20.5% year-on-year, compared with a 19.8% fall in January to October.
Gold rose on Monday, supported by softer U.S. Treasury yields, while silver steadied after a record-setting spree last week. FUNDAMENTALS. * Spot gold rose 0.3% to $4,313.08 per ounce by 0119 GMT. * Gold has gained about 64% this year, shattering multiple records and making it one of the best-performing assets of 2025. * U.S. gold futures gained 0.39% to $4,344.80 per ounce on Monday.
China's new home prices extended a decline in November, official data showed on Monday, indicating that a recovery in demand remains elusive despite the government vowing to stabilise the sector. Prices fell 0.4% month-on-month, according to Reuters calculations based on National Bureau of Statistics data, compared with a 0.5% decline in October.
The yen strengthened on Monday ahead of a likely Japanese rate rise in a week that is packed with central bank decisions and key U.S. data that could help shape the Federal Reserve's near-term policy outlook.
* BoE, ECB, BOJ announce rate decisions this week. * US nonfarm payrolls, inflation data due. * Dollar holds near two-month low; euro, sterling steady. * Trump says leaning toward Warsh or Hassett for Fed Chair. By Rae Wee.
European shares moved higher on Monday as Wall Street futures pointed to a recovery from last week's sell-off, but investor caution capped gains?at the start of a week loaded with big central bank decisions and economic data.
* Central banks including ECB, BOJ, BOE, Riksbank and Norges Bank due to meet. * Delayed US data including jobs and inflation to resume. * China Vanke bondholder vote renews concerns around property sector. By Gregor Stuart Hunter.
Big Japanese manufacturers' business sentiment hit a four-year high in the three months to December, a closely watched survey showed on Monday, reinforcing market expectations the central bank will raise interest rates this week.
* Big manufacturers' sentiment index +15 vs previous +14. * Big non-manufacturers' index +34, unchanged from September. * Firms expect business conditions to worsen three months ahead. * Tankan reinforces dominant view BOJ to hike rates this week. By Leika Kihara.
* Jobs data due Tuesday, CPI out on Thursday. * Reports on economy come after Fed rate cut. * Tech slide drags on stocks at end of week, following S&P 500 record. By Lewis Krauskopf. A host of delayed employment, inflation and other data in the coming week will give a long-anticipated view of the U.S. economy that could help guide markets into year-end.
The U.S. Supreme Court's conservative justices appear ready to endorse President Donald Trump's power to fire a regulatory agency official despite job protections given by Congress.
The U.S. Supreme Court's conservative justices appear ready to endorse President Donald Trump's power to fire a regulatory agency official despite job protections given by Congress.
JPMorgan (JPM) top boss Jamie Dimon signaled support for former Federal Reserve Governor Kevin Warsh as the next chair of the U.S. central bank, the Financial Times reported on Friday. Earlier in the day, President Donald Trump said he was leaning toward either Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
JPMorgan (JPM) top boss Jamie Dimon signaled support for former Federal Reserve Governor Kevin Warsh as the next chair of the U.S. central bank, the Financial Times reported on Friday. Earlier in the day, President Donald Trump said he was leaning toward either Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
Federal Reserve Bank of San Francisco President Mary Daly said on Friday in a LinkedIn posting that she favored cutting interest rates at this week's monetary policy meeting. "This week's decision was not an easy choice," Daly wrote, with the Fed facing conflicts between its job and inflation goals.
U.S. President Donald Trump said on Friday he has narrowed his search for a new Federal Reserve chair to two people and he should at least be consulted on decisions about interest rates, in what would be an unusual development. Trump said he is leaning toward either former Fed Governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Fed next year.
U.S. President Donald Trump said he is leaning toward former Fed governor Kevin Warsh or National Economic Council Director Kevin Hassett to lead the Federal Reserve next year, the Wall Street Journal reported on Friday citing an interview with Trump.
The U.S. dollar rose against major currencies on Friday after falling in recent sessions, but was still
on track for its third straight weekly drop amid the prospect of interest rate cuts by the ...
Latin American stocks rose on Friday, eyeing a positive finish to a week dominated by monetary policy decisions, including a U.S. Federal Reserve interest rate cut, while investors braced for ...
* Yields climb after two-day decline. * Fed dissenters express concerns over inflation. * 10-year yield poised for second straight weekly gain. By Chuck Mikolajczak. U.S. 10-year Treasury yields climbed on Friday after two straight sessions of declines, as investors weighed commentary from a host of Federal Reserve officials and the outlook for the economy.
* Wall Street stocks down sharply with tech shares. * Investors brace for BoE, ECB, BOJ next week. * German bond yields rise, US yields up as well. By Caroline Valetkevitch. Major stock indexes were down sharply on Friday, with technology-related shares falling again as investors were wary of artificial intelligence bets, while the dollar and U.S. Treasury yields edged higher after recent losses.
* EU wants to use frozen Russian assets for loan to Ukraine. * Russian central bank says such a move would be illegal. * EU agrees to freeze Russian assets indefinitely. By Jan Strupczewski. BRUSSELS, Dec 12 - The European Union agreed on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Russia.
European Union governments signed off on Friday on an agreement to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine defend itself against Moscow's invasion.
* FTSE 100 down 0.6%; FTMC up 0.1% * Weak British GDP data fuels rate-cut bets. London's FTSE 100 fell on Friday, as a sell-off on Wall Street fuelled by AI angst spoiled the mood across European markets. The blue-chip FTSE 100 dipped 0.6%, retreating from gains of as much as 0.6%. The mid-cap FTSE 250 index edged up 0.1%, also pulling back from early highs.
Belgium, Bulgaria, Italy and Malta said in a joint statement on Friday they had voted in favour of the European Union's plans to indefinitely freeze Russian central bank assets held in Europe.
Peru's economy could have expanded by around 4% in October, the chief economist of the Andean country's central bank Adrian Armas said on Friday, noting that the economy is "performing well." Armas highlighted the importance of tight fiscal policies in a call with journalists, which came after the central bank held its benchmark interest rate at 4.25% for the third straight meeting.
* Silver hit record high at $64.64/oz. * Platinum climbs to 14-year peak. * Non-farm payrolls data due on December 16. By Sarah Qureshi. Silver hit a record high on Friday as gold prices rose more than 1% to hover at a seven-week peak, spurred by a softer dollar and this week's Federal Reserve interest rate cut.
The U.S. dollar
drifted higher against major currencies on Friday after falling
in recent sessions, but was still set for its third straight
weekly drop amid the prospect of interest rate cuts by ...
Canada's benchmark stock index hit a fresh intraday peak on Friday, with cannabis and mining shares leading gains, ending a week filled with central bank meetings. The TSX index was up 0.2% at 31,731.35 points by 09:38 a.m. ET, and set for a weekly gain. "Global stocks are trading at record highs despite ongoing technology valuation doubts," said Bob Savage, head of markets macro strategy at BNY.
* Yields climb after two-day decline. * Fed dissenters express concerns over inflation. * 10-year yield poised for second straight weekly gain. By Chuck Mikolajczak. U.S. 10-year Treasury yields rose on Friday after two straight sessions of declines, as investors assessed commentary from a flurry of Fed speakers and a positive outlook on the economy.
Federal Reserve Bank of Cleveland President Beth Hammack said Friday that given her own take on the economy she would prefer monetary policy to be tighter than it is currently. The Fed's rate cut this week along with past easings this year has interest rate policy "right around a neutral" level, Hammack said at an event in Cincinnati.
The European Commission is open to include guarantees that Belgium wants in the plan to use immobilised Russian central bank assets for a loan to Ukraine, European Economic Commissioner Valdis Dombrovskis said on Friday.
Belgian central securities depository Euroclear, which holds most of the Russian central bank assets frozen in Europe, can offset any seizure of its assets in Russia as a result of lawsuits with the Russian assets it holds in Belgium, a senior EU officials said.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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