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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB kept its key interest rate steady
The ECB, in its October monetary policy meeting, opted to keep the benchmark interest rates unchanged at a record low of 0.00%. Further, the central bank stated that it remains on course to halt its asset purchase programme by the end of December 2018 and would increase interest rates sometime after next summer.
German Ifo business expectations index fell in October
The Ifo business expectations index in Germany dropped to a level of 99.80 in October, compared to a reading of 100.90 in the previous month. Market anticipation was for the index to drop to a reading of 100.40.
US durable goods orders unexpectedly climbed in September
On a monthly basis, the US preliminary durable goods orders unexpectedly rose 0.80% in September, higher than market expectations for a fall of 1.50%. Durable goods orders had registered a rise of 4.40% in the prior month.
US pending home sales declined more than expected in September
On a YoY basis, pending home sales in the US registered a drop of 3.40% in September, higher than market expectations for a fall of 2.60%. Pending home sales had registered a revised drop of 2.60% in the prior month.
US advance goods trade deficit widened in September
The US has reported advance goods trade deficit of $76.00 billion in September, following a deficit of $75.50 billion in the previous month. Markets were anticipating the nation to record a deficit of $75.10 billion.
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