Source: Eurostat Unemployment in the Eurozone continued to decline in October but was largely unchanged in the European Union during the month. EZU is up 1.37% premarket, while VGK is flat. The Euro area seasonally-adjusted unemployment rate stood at 7.3% in October, lower than the 7.4% in September and the 8.4% the same month last year.The EU unemployment rate remained … [Read more...] about Eurozone Unemployment Down in October, Unchanged in EU
South Korean Inflation Surges to Decade-High in November
South Korean inflation accelerated faster than expectations to hit a decade-high in November, amid a surge in food and oil prices during the month. Inflation clocked in at 3.7%, faster than the expected 3.1%, and the Bank of Korea’s 2% target for eight straight months, attributed mainly to higher prices for food and oil, with the country reliant on imports. Researchers … [Read more...] about South Korean Inflation Surges to Decade-High in November
Fed to Consider Faster Bond-Buying Taper, Inflation A Key Concern — Powell
Source: FT With financial markets selling off on fears over the new COVID-variant Omicron, Fed Chair’s signal support for faster tapering showing taming inflation is a top priority. DXY down -0.19%, EUR USD up +0.23% On Tuesday, Jay Powell effectively dumped the Fed’s previous stance on rising inflation and declared his approval of faster tapering of Fed’s massive … [Read more...] about Fed to Consider Faster Bond-Buying Taper, Inflation A Key Concern — Powell
Washington’s Brexit Fears Over Northern Ireland Delays US-UK Trade Agreement
Source: FT The US is putting on hold a deal to remove Trump-era tariffs on UK and aluminum on Washington’s concerns about London’s threats to adjust post-Brexit trading guidelines in Northern Ireland. DXY down-0.16%, EUR USD up +0.17%. Brussels and Washington have always warned London that single-handedly changing the EU-UK agreement could undermine peace on the island of … [Read more...] about Washington’s Brexit Fears Over Northern Ireland Delays US-UK Trade Agreement
South Korean Consumer Prices Jump 3.7% YoY, Fastest Rate in 10Yrs
Source: FT South Korean inflation has risen at its fastest pace in nearly 10 years, as the country’s consumer price index matched economists’ expectations with a 3.7% YoY in November. KRW USD up +0.01%, KOSPI up +1.57% The monthly inflation figure in Asia’s fourth-largest economy topped forecasts of a 3.1% increase and has surpassed the Bank of Korea’s 2% target for … [Read more...] about South Korean Consumer Prices Jump 3.7% YoY, Fastest Rate in 10Yrs
