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China Private Sector Sinks Into Deeper Contraction Amid Covid Scare

China Private Sector Sinks Into Deeper Contraction Amid Covid Scare

China's manufacturing and services sectors weakened the most since early 2020 despite the abrupt abandonment of zero Covid policy in December amid public resistance, as the number of infections rise that prompted several countries to raise alerts and, bring back testing and protective measures. The official manufacturing Purchasing Managers' Index declined to 47.0 in December.
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European Economic News Preview: Eurozone Final Manufacturing PMI Data Due

European Economic News Preview: Eurozone Final Manufacturing PMI Data Due

Results of the purchasing managers' survey for the manufacturing sector from the euro area and other major Eurozone economies are the top economic news on the opening weekday of the new year. At 3.15 am ET, Purchasing Managers' survey results from Spain are due. The manufacturing PMI is forecast to rise to 46.2 in December from 45.7 in the previous month.
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Dollar Loses Ground Against Major Counterparts

Dollar Loses Ground Against Major Counterparts

The U.S. dollar drifted lower against most of its major counterparts on Friday with traders assessing the likely policy stance of global central banks and the impact of higher borrowing costs on economic growth.
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Swiss Market Ends Notably Lower

Swiss Market Ends Notably Lower

The Switzerland stock market ended notably lower on Friday due to sustained selling at several counters.
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European Stocks Tumble, End Final Session Of Year On Weak Note

European Stocks Tumble, End Final Session Of Year On Weak Note

European stocks ended the final session of Year 2022 on a very weak note as fears about a recession, worries about rising rates, surging Covid cases in China, and an escalation in Russia-Ukraine tensions all weighed on sentiment and rendered the mood bearish.
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