S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketUK economic growth surprised on the upside in November, with real GDP rising 0.3% month-on-month, led by gains in services and manufacturing despite continued weakness in construction, BBH FX analysts report.
BOE rate cuts priced in as policy room remains
“UK economic growth overshot expectations in November. Real GDP rose 0.3% m/m (consensus: 0.1%) vs. -0.1% in October, driven by services and production. Services output increased 0.3% m/m vs. -0.3% in October while production output increased 1.1% m/m vs. 1.3% in October on a solid pick-up in manufacturing activity. The construction sector remains a drag on the economy falling -1.3% m/m following a decline of -1.2% in October.”
“Leading indicators point to soggy UK economic activity with real GDP growth tracking the Bank of England’s (BOE) Q4 projection of 0.3% q/q. As such, the BOE has room to ease policy further, which remains a drag for GBP. The UK swaps curve fully price-in a total of 50bps of BOE rate cuts to 3.25% over the next twelve months.”
