Germany’s government bonds held a two-day advance as euro-area manufacturing growth slowed more this month than economists predicted, strengthening the case for the European Central Bank to expand monetary stimulus.
Australia’s dollar fell below 90 U.S. cents for the first time since March, and Sweden’s krona declined after elections as prospects for U.S. interest-rate increases next year boosted the greenback’s allure.
American and European business groups have issued reports in recent days expressing concern that foreign firms have faced the brunt of antitrust scrutiny. The American Chamber of Commerce in China called China’s antitrust enforcement “selective and subjective.”
nitial jobless claims rose by 4,000 to 302,000 sticking close now to its pre-recession levels. Of course the upside from these lower readings is a series of strong nonfarm payroll readings. Only the January data point has thus far been below 200,000
The dollar strengthened to a seven-month high against the yen and government bonds fell before data that analysts forecast will show expansion in U.S. manufacturing. Commodities tumbled as oil and gold sank.
U.S. stocks fluctuated after the Standard & Poor’s 500 Index had its best month since February, as investors awaited data estimated to show manufacturing in the world’s biggest economy continued to expand in August.
A drive to update plants and equipment is propelling gains in business investment that will probably keep American factories busy even as consumer spending shows signs of cooling. Better wage growth could broaden household purchases beyond automobiles and help sustain the pickup in manufacturing.