Futures on major U.S. stock indices point to a lower opening on Wednesday with futures on the S&P 500 down 0.47 percent, futures on the Dow Jones Industrial Average down 0.39 percent and Nasdaq100 futures down 0.47 percent.
The British pound strengthened on Tuesday on a higher-than-expected inflation reading for November, with the sentiment also supported by a view that the US Federal Reserve may expand its bond buyback program at its monetary policy later in the day, supplying more dollars into the system.
A survey conducted by Association for Financial Professionals showed the executives do not believe that additional fiscal stimulus is necessary or desirable at this stage.
Inflation continued to rise in the U.K. during November, remaining above Bank of England's (BoE) target for the ninth month, spurred by a hike in food and non-alcoholic drink prices, the Office for National Statistics reported on Tuesday.
Futures on major U.S. stock indices point to a modestly lower opening on Tuesday as investors awaited a wave of economic data including the US Federal Federal Open Market Committee statement (FOMC)
UK households are struggling to pay off their debts despite low interest rates, said a survey on Monday.
U.K.'s producer prices index fell to 0.3 percent in November from 0.6 percent, mainly due to a rise in fuel and food prices, a report by the Office for National Statistics said.
Annual inflation in Germany hit two-year high in November mainly driven by rising energy and food prices, data showed on Thursday.
UK factory orders continued to rise in December and the manufacturers expect the output growth to be robust in the next three months due to strengthening demand at home and abroad.
China's manufacturing activity expanded in November, pointing to more inflationary pressure in the near term.
Below the 30-mark, RSI on both day and 4-hour charts suggest the pair is in the oversold territory and any fundamental signal showing weakness for the greenback could push the pair up to 1.320-1.327 (R1) before marching ahead to 1.336 (R2), its 38.2 percent Fibonacci. Further up, 1.344 (R3) is seen as a strong resistance for the pair.
The top pre-market NASDAQ stock market gainers are: CPI International, iGo, LJ International, Savient Pharmaceuticals, ASML Holding, A-Power Energy Generation Systems, and Melco Crown Entertainment.
CPI International, Inc. (CPII), which makes broadcast and wireless components, said it agreed to be acquired by an affiliate of private-equity firm Veritas Capital for about $525 million in cash.
Japan's economic recovery showed some positive signs as inflation increased in October for the first time in almost 24 months.
Pessimistic outlook about unemployment from the U.S. Federal Reserve overshadowed reports stating the economy grew faster in the third quarter. The Fed expects unemployment to remain high over the next couple of years, hovering around 8.9 percent to 9.1 percent next year. It had previously forecast unemployment rate between 8.3 percent and 8.7 percent.
An Agricultural commodity price rally in the U.S. will help the wobbly recovery in three ways - by boosting inflation a tad and narrowing the worrying trade deficit by a whisker, while not hardening enough to snuff out the fledgling recovery.
A surge in food prices propelled Chinese consumer prices to a 25-month high in October, despite the government's efforts to control inflation. Food prices in the world’s second largest economy went up by 10.1 percent in October year-on-year.
UK factory orders rose more than expected in November, but the manufacturers expect the output growth to slow in the next three months.
Chinese Premier Wen Jiabao said on Wednesday that the State Council, China’s cabinet, is drafting measures to contain rising commodity prices.
China has stepped up its fight against food inflation by announcing plans for price controls, the selling of government supplies, and subsidies to needy families.
The US dollar dropped against its major counterparts on Wednesday after data showed October consumer price inflation was slower than expected with housing starts data for the same month also coming in at a weaker-than-expected level.
U.S. consumer prices rose lower than expected in October mainly driven by a rise in gasoline prices.
