The latest market updates are brought to you by Investment Managers & Analysts at Wealth at Work Limited which is a member of the Wealth at Work group of companies.
This week, traders have the Fed’s last monetary policy meeting of the year in focus (a decision will be made by Wednesday). The Fed has a duty to cater to their dual mandate of stability in price growth and maintain strength in the labour market.
On Monday, fresh data showed that China’s factory activity improved marginally in November, although it remained in contractionary territory. The composite PMI slipped to 49.7, signalling ongoing weakness - since readings above 50 indicate expansion, while those below reflect contraction.
On Tuesday, the Confederation of British Industry published a survey showing that confidence among British retailers has fallen compared with a year ago, alongside a slowdown in retail sales. The indicator measuring how retail sales have changed over the past year slipped to -32 in November from -27 in October.