Source: IHS Markit France Services Business Activity was 56.2 in September, a five-month low and down from 56.3 in August. CAC 40 is up +0.54%, EURUSD is down -0.18%. Despite falling in September, France’s demand was still robust and continued to approach the levels seen before the pandemic.Combined with the Manufacturing Output Index, France’s Composite Index was at … [Read more...] about France Services Activity on a 5-Month Low but Demand Nears Pre-Pandemic Levels
Oil Prices Soar as OPEC Sustains Slow Monthly Crude Supply Increases
Source: OPEC OPEC+ agreed to retain its schedule of moderate monthly oil-production increases, leading to higher crude prices. CL1! Up +2.56%, USOIL up +2.69% Ministers ratified a supply hike of 400,000 barrels a day scheduled for November on Monday. Heading into the talks, there had been speculation that the group could choose a larger supply increase in November.West … [Read more...] about Oil Prices Soar as OPEC Sustains Slow Monthly Crude Supply Increases
Euro Area’s Household Financial Investment Cools to a 4.2% Annual Growth in Q2
Source: ECB Households in the euro area posted a 4.2% annual increase in financial investment in the second quarter of 2021, a decline from 4.8% registered in the first quarter. DAX is down 0.28%, EURUSD is up 0.36%. Gross disposable income rose by an annual rate of 4.9%, a higher increase compared to 1.0% in the first quarter. The gross savings rate by households fell … [Read more...] about Euro Area’s Household Financial Investment Cools to a 4.2% Annual Growth in Q2
Euro Area’s Current Account Surplus rises to 2.9% of GDP in the Second Quarter
Source: ECB The current account surplus in the euro area was 337 billion euros in the second quarter of 2021, a 2.9% of GDP, up from 200 billion euros or 1.7% of GDP in the prior year. DAX is down -0.26%, EURUSD is up +0.30%. The increase in the euro area’s current account surplus reflected a shift of services balance from a negative value of 23 billion euros, to a … [Read more...] about Euro Area’s Current Account Surplus rises to 2.9% of GDP in the Second Quarter
GBPUSD Price Outlook: The Pound’s on Course for Further Gains
The end of quantitative easing in the UK and an expected rise in interest rates are likely to boost the GBP.The UK economy is on a recovery path following an end to lockdowns and successful mass vaccination, but the energy crisis poses a big challenge.USD faces many challenges, with Evergrande still in the red, a debt ceiling crisis, and low jobs being key … [Read more...] about GBPUSD Price Outlook: The Pound’s on Course for Further Gains
