G-20 meating in focus

15 Feb

Investors trained their attention on developments in Moscow where the Group of 20 nations meeting got under way. A draft statement on Thursday reportedly said the finance ministers and central bankers from the group would reiterate a vow to refrain from competitive devaluation of currencies following recent worries over a global currency war amid a sharp decline in the Japanese yen. See: G-20 to vow no competitive devaluation: reports and See: Russian meteor christens G-20 meeting

The G-20 meeting left investors sidelined in the early trading hours in Europe, with markets struggling for direction with the, but stronger-than-expected manufacturing data for the New York region helped lift the trading mood. The Empire State index jumped to 10 in February form negative 7.8 in the prior month, exceeding analysts’ forecast of a negative 2 reading. See: Manufacturing improves in New York

The University of Michigan-Thomson Reuters consumer-sentiment gauge rose to a preliminary February reading of 76.3—the highest level since November—from a final January reading of 73.8, reports said. See: University of Michigan consumer sentiment rises in February.

Source: marketwatch.com

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