U.S retail sales fell 0.7% in December, a third straight month, showing that the economy lost speed at the end of 2020, according to Reuters. Manufacturing production rose 0.9% after advancing 0.8% in November, the eighth-month of straight gains and above expected 0.5% Sales at restaurants and bars plunged 4.5%, online sales tumbled 5.8%, while receipts at electronics and … [Read more...] about U.S Retails Records Further Decline, Manufacturing Rise Beats Estimates
European Markets take Hit on Lockdowns Despite $1.9 Trillion U.S Stimulus Plan
European stocks fell on Friday as major economies braced for stricter lockdowns amidst plans for a $1.9 trillion U.S. stimulus package, reports Yahoo!finance. Britain’s FTSE 100 and German’s DAX opened 0.3% lower while France’s CAC 40 traded 0.5% lower. European stocks’ decline comes at a time most countries are struggling to contain the resurgent virus resulting in tighter … [Read more...] about European Markets take Hit on Lockdowns Despite $1.9 Trillion U.S Stimulus Plan
How Does LIBOR Differ from the Federal Funds Rate?
Life as an investor in money markets revolves around certain data points that help you to make sense of the future. After all, currency trading is all about making predictions about a given currency pair's exchange rate. Federal funds rate and the London interbank offered rate (LIBOR) are very important data points that influence the foreign exchange's direction (forex) … [Read more...] about How Does LIBOR Differ from the Federal Funds Rate?
Copper Price Rallied in 2020 – Can the Momentum Continue in 2021?
Copper price declined for the third consecutive day as investors reacted to the relatively weak manufacturing PMI data from China. It is trading at $3.5156, which is slightly lower than the 2020 high of $3.6415. Copper 2020 performance China manufacturing PMI Copper prices rallied by about 77% from the March 2020 low of $1.9732 to a yearly high of $3.615. This … [Read more...] about Copper Price Rallied in 2020 – Can the Momentum Continue in 2021?
U.S Jobless Claims hits 965,000, the Highest Weekly Level since August
U.S. first-time jobless claims for the week ending January 9 rose to 965,000, more than expected 800,000, according to the Department of Labor press release. The weekly total was higher than the previous week's 784,000 amid slowdowns in hiring due to pandemic restrictions. Continuing claims rose 199,000 to 5.27 million, the first time increase since late November.The total … [Read more...] about U.S Jobless Claims hits 965,000, the Highest Weekly Level since August
