Source: Bureau of Labor Statistics The US posted a 0.2% increase in producer prices in December, a lower gain compared to a jump of 1.0% in November. SPY is up +0.021%, DXY is down -0.30%. Despite the slower increase in producer prices, the final demand costs rose the highest in a calendar year since 2010 at 9.7% in 2021.Final demand services increased by 0.5% in December … [Read more...] about US Producer Prices Increase by a Lower 0.2% in Dec. to Close at a 12-Year High
Lira Weakens Again as Global Reserves Hit the Lowest in Two Decades
Source: Reuters Turkish lira fell almost 3% against the dollar on Thursday, with investors getting concerned over the unorthodox policies by the state to spur growth and increase exports. USDTRY is currently up +2.04%. Surging inflation has seen the lira continue to fall against the dollar, with the government already having slashed the key rate by 500 basis points since … [Read more...] about Lira Weakens Again as Global Reserves Hit the Lowest in Two Decades
US Jobless Claims Up for Second Straight Week
Source: US Labor Department Unemployment claims in the United States continued to grow in the first week of the year, marking the second straight week of increases. DXY is down 0.24%, while Gold is down 0.21%. Seasonally adjusted initial claims for the week ending January 8 increased by 23,000 to 230,000, from the previous week’s unrevised 207,000.The four-week moving … [Read more...] about US Jobless Claims Up for Second Straight Week
European Debt Sales Hit Record Highs Ahead of Anticipated Rate Hike
Source: Bloomberg European debt market sales hit a fresh record-high, as borrowers flocked ahead of the anticipated interest rate hike. EZU is up 0.08% premarket. Bond sales hit $107 billion, surpassing the previous record set in 2020 when firms increased their borrowing ahead of the COVID-19 pandemic.Among the borrowers that increased funding for the week is Portugal, … [Read more...] about European Debt Sales Hit Record Highs Ahead of Anticipated Rate Hike
AUDUSD Forecast as US Inflation Data Fails to Rescue the Greenback
CPI release fails to lift bearish sentiment around the US dollar.Rising commodity prices propel the Australian dollar.Investors keep their eyes on rising Covid-19 infections, US jobless claims, and PPI data. The AUDUSD pair was marginally high on Thursday, as the US dollar struggled to find its footing after two days of losses. At the time of writing, AUDUSD was going for … [Read more...] about AUDUSD Forecast as US Inflation Data Fails to Rescue the Greenback
