Google Launches New Devices
EU Markets Open Mixed
Dollar Higher
This week in a nutshell: Dollar Rallies
On Tuesday the dollar (USD) rose after positive U.S. economic data reinforced the possibility of another rate hike by the Federal Reserve before the end of the year. Meanwhile, the Australian dollar slipped against the U.S. dollar (AUDUSD) midweek after the former’s central bank held rates unchanged. The euro (EUR) continued to be held back by the Catalan crisis.*
Thu, September 28: In Today’s Markets…
1. Google Takes On Apple With New Devices
Alphabet Inc’s Google (#GOOGL) unveiled the second generation of its Pixel smartphone along with a cheaper Home speaker, and a premium laptop. The tech giant’s array of new gadgets compete with a surge of new devices by companies such as Apple (#AAPL) and Amazon (#AMZN). Google executives at the San Francisco event also emphasized the company’s artificial intelligence focus. Google’s new products are expected to boost the company’s core ad sales business.**
2. E.U. Markets Open Mixed But Spanish Stocks Rebound
Spanish stocks edged slightly higher this morning while major European indices recorded a mixed open as investors monitor political events and key data releases. It should be noted that Spanish stocks recorded a significant sell-off at the start of the week after the regional government of Catalonia demanded its independence from Spain. On the data front accounts from the last monetary policy discussion at the European Central Bank will be out by 11:30 a.m. GMT while later in the day, investors will be focusing on U.S. jobless claims data due to be published at 12:30 p.m. GMT.***
3. Dollar Inches Higher On Positive U.S. Data
The dollar (USD) continued to edge higher against a basket of its peers on Thursday after data shed more positive light on the U.S. economy. The dollar rallied on Wednesday after data that revealed the U.S. service sector growth hit was at its fastest in 12 years in September and private employers added more jobs than forecast despite the devastating impact of Hurricane Harvey and Irma.***
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*Source: Reuters
**Source: Investing.com
***Source: CNBC
