As every Sunday, the most important news from the past week, as well as the dates for the coming week.
Also as a video:
https://youtube.com/shorts/oVP-1JUmKxg?si=rCpJC26z5ARnLel1
Sunday:
Further deflationary pressure in China 🇨🇳. Inflation is at 0.4%. Producer prices are even falling.
Monday:
$FRA (-0,91 %) Fraport will probably take over Kalamata Airport, as the operator of Frankfurt Airport is the only bidder. Fraport is paying 1.24 billion euros for the 40-year concession.
Tuesday:
Good news from the ZEW economic survey, which is forecasting an upturn. In October, the barometer rose by 9.5 points to 13.1 points after 3 consecutive declines.
$GS (-1,39 %) Goldman Sachs was able to increase its profit significantly by 45%. Above all, it was able to achieve significantly higher profits in equity trading. Also $BAC (-0,32 %) Bank of America and $C (-0,78 %) Citigroup also benefited from a better trading business. The new interest rate environment is making itself felt here.
Thursday:
The ECB cuts the key interest rate again. Once again, the key interest rate is lowered by 25 basis points. The deposit rate is now 3.25%. This makes loans even cheaper. The inflation rate was also revised downwards again today to 1.7%.
https://www.wiwo.de/politik/konjunktur/ezb-entscheid-ezb-senkt-erneut-den-leitzins/30043474.html
Friday:
In August 2024, the EU again achieved a current account surplus. At 31 billion euros, this was slightly less than the 41 billion euros in the previous month. The forecast was around 42.5 billion euros.
https://www.ecb.europa.eu/press/stats/bop/2024/html/ecb.bp241018~016a3487ba.en.html
Most important dates in the coming week:
Wednesday: 15:45 Interest rate decision (Canada)
Thursday: 9:30 Purchasing Managers' Index (DE)
Friday: 10:00 ifo Business Climate (DE)
What other important dates can you think of?