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Financial Markets… Global stock markets edged slightly lower on Tuesday, with the MSCI’s benchmark world stock index easing just 0.1%, as uncertainty over the next policy moves by the European Central Bank and the Federal Reserve damped market sentiment. Asian markets were mixed, having swung between gains and losses, while Europe’s Stoxx 600 index dropped 0.4% from yesterday’s 5-year high in afternoon trading. Developing-country’s benchmark MSCI index fell 0.6%, led by sharp declines in Indian and South African shares. Furthermore, U.S.
Financial Markets… European bonds and stocks advanced as data showed Euro-zone inflation unexpectedly fell to a near 4-year low in October, fueling speculation the European Central Bank (ECB) will trim interest rate to bolster growth. Expectations of ECB easing and better-than-expected earnings reports outweighed concerns over less dovish sentiment on the state of the economy from the U.S. Federal Reserve.
Financial Markets… The dollar fell 0.2% versus the euro to $1.3788 on Wednesday, extending its monthly depreciation to 1.7% amid growing expectations of extended Fed’s stimulus program. Meanwhile, the greenback held steady against the yen at 98.21 and has appreciated 13% year-to-date. The recent survey indicated the Federal Reserve would maintain its $85 billion bond purchasing program until March next year.