After going down for eight months, the EU economic sentiment indicator went up by one point in November 2022 to reach 93.7. The result slightly exceeded forecasts of 93.5, but it remained close to its lowest level in two years. Rising interest rates, high inflation, and a worsening energy crisis during the winter all put a damper on sentiment.

The Bank of Japan (BoJ) is collaborating with three unnamed major banks to try out digital yen in 2023. They will focus on any problems that could arise during deposits and withdrawals. The experiment will also test if the CBDC can operate during natural disasters and in areas without internet access.

The number of Americans submitting new unemployment compensation claims increased by 17,000 to 240,000 in November. This is significantly more than the predicted 225,000, and the highest in 3 months as the labor market is stressed by the current economic situation.

Elon Musk ran a poll on whether Donald Trump’s Twitter account should be reinstated. After the poll showed yes, Donald Trump is back on the platform. Moreover, countless others whose accounts were suspended before Musk’s takeover are back.

Existing house sales in the US fell 5.9% to 4.43 million in October. Except for a small decline at the start of the pandemic, this is the lowest number in 11 years, falling below market expectations of 4.38 million. Due to rising mortgage rates, this is the ninth consecutive month that sales have decreased.

Housing starts in the US dropped by 4.2% in October 2022 after falling by 1.3% in September. Building permits declined 2.4% from a month earlier, reaching their lowest level since August 2020 amid an ongoing economic decline.

Spain’s annual inflation fell to 6.8% in November 2022, moving further away from July’s 38-year high of 10.8%. Inflation remained below market expectations at 7.4%. The slowdown in the inflation rate was mainly led by declines in the cost of fuel and electricity.

After going down for eight months, the EU economic sentiment indicator went up by one point in November 2022 to reach 93.7. The result slightly exceeded forecasts of 93.5, but it remained close to its lowest level in two years. Rising interest rates, high inflation, and a worsening energy crisis during the winter all put a damper on sentiment.

BlockFi officially filed for bankruptcy on Monday. It has become the latest crypto company crippled by the collapse of FTX. It was functioning since 2017 with more than 450,000 clients.

Pinduoduo (PDD) stock jumped 15% in the pre-market after quarterly results. The company reported much higher earnings per share of 8.62 instead of 4.79. The forecasted revenue for Q3 was $30.71 billion, but the firm surprised the market with $35.5 billion revenue.

WTI crude oil fell more than 3% below $74, the lowest price in one year. Widespread protests in China over its strict zero-Covid policy hurt investor confidence and the outlook for demand. Oil prices were also pushed down by reports that the US had granted Chevron Corp permission to restart oil production in Venezuela.

On Monday, the dollar fell against a group of major currencies and is closing in on a price of 105. This is the lowest level since August, as investors reevaluated the outlook for growth and monetary policy. Fed’s possible slow down of rate hikes is currently driving the dollar pullback.