There are two broad courses for the capital markets in the week ahead. The first is a continuation of what we have experienced for the past two weeks. Greece's financial and political crisis, and the dramatic drop in Chinese shares, and the extensive policy response dominate the market's focus. Alternatively, the pressures emanating from these two forces could subside.
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Australian consumer confidence fell again last week, extending the decline seen since the beginning of the year to 4.4%.
The latest ANZ-Roy Morgan consumer confidence index fell by a further 0.9% to 111.2, leaving the index below its long-run average of 112.7.
Ominously, ANZ note that the last time sentiment fell in January was in 2008, right before the onset of the global financial crisis.
LONDON: European markets were firmer on Tuesday after an extended weekend break, bucking fears of slowing demand from China and despite debt stand-off fears depressing Greek stocks. The pan-European FTSEurofirst 300 equity index rose 0.3 percent, with UBS shares gaining almost 7 percent after the bank reported its highest quarterly profit in nearly five years and said it was in advanced U.S. talks to settle allegations of foreign exchange market rigging. U.S. stock index futures were lower ahead of another round of earnings reports and after data showed the U.S.
OTTAWA — Despite gnawing concerns over heavily indebted households, Canadians still appear ready to keep on spending.
They seem more confident than earlier this year now that economic growth is picking up and their jobs are more secure, according to surveys released Monday.
Consumers also feel more secure about their personal finances going into 2014 and that the still-hot real estate market will avoid a crash, the new data show.