Chair Powell offers a qualified endorsement of 2021 tapering, warns against early rate hike assumptions. UK service sector employment accelerates. Robust growth continues in eurozone’s service and manufacturing sectors. Services activity drops sharply in Japan. Australian non-mining capex jumps.
The Market Another positive week for global stocks, especially in Japan. Bonds trim earlier losses and the dollar softens after Chair Powell’s speech. Oil surges on hurricane-related US production shutdowns.
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