investingLive Americas market news wrap: ECB holds, sources report says December hike

Iran's Ghalibaf: Progress can only be achieved once the seven conditions have been agreed uponTrump: Iran war will be over very soon.

Senator warns of 'insane' US plansECB sources report: Policymakers see a December rate hike followed by a pauseLagarde: Growth should be underpinned in the near termECB rate decision: No change in ratesUS initial jobless claims 194K vs 199K expectedUS September PCE core inflation +0.5% m/m vs +0.3% expectedUS GDP Advance for the 3rd quarter 3.4% vs 3.2% estimateMarkets:WTI crude oil down 46-0cetns to $102.32US 10-year yields down 6.3 bps to 4.98%GBP leads, AUD lagsGold down $44 to $4022S&P 500 down 0.3%, Nasdaq down 1.4%The ECB decision to hold rates wasn't a surprise but the commentary overall had a hawkish bent, as Lagarde highlighted some flow-through from energy inflation.

That was trumped by the usual 'ECB sources' reporting that flagged a December hike but said they would pause after that.

The euro bounced around but ultimately reversed earlier losses to finish modestly higher.On the Iran front, a US Senator on the foreign relations committee warned of 'insane' war plans that are being drawn up to attack civilian infrastructure.

Continue reading at the original source →