Source: Eurostat Economic growth in both the eurozone and the European Union picked up in the first three months of the year, following the flat performance recorded in the previous quarter. EZU is up 2.25%, while VGK is up 1.32% premarket. The eurozone economy climbed by 2.6% in the first quarter, faster than the 2.1% recorded in the two previous quarters and 1.9% in the … [Read more...] about Eurozone, EU Economic Growth Accelerate in First Quarter
Forex News
UK Unemployment Falls to 3.7% as Record Job Vacancies Reported
Source: Office for National Statistics The UK posted an unemployment rate of 3.7% in the quarter January to March 2022, a decline of 0.3 percentage points. FTSE 100 is up +0.93%, GBPUSD is up +1.11%. The decline in unemployment comes even as the job vacancies in February to April hit a fresh record of 1.295 million. For the first time on record, there were fewer … [Read more...] about UK Unemployment Falls to 3.7% as Record Job Vacancies Reported
New York Manufacturing Retreats to Negative Territory
Source: New York Fed New York business activity contracted in May, marking the second negative reading in the past three months after the strong growth in the previous month. QQQ is down 0.70%, while SPY is down 0.48%. New York manufacturing stood at -11.6 in May, reflecting a 36-point decline, based on results of the latest Empire State Manufacturing Survey.Some 20% of … [Read more...] about New York Manufacturing Retreats to Negative Territory
China’s Retail and Factory Activity Slips as COVID-19 Restrictions Hurt Factories
Source: National Bureau of Statistics of China China’s retail and factory activity dropped sharply in April as widespread COVID-19 restrictions confined consumers and workers to their homes and disrupted supply chains. CSI 300 Index down -0.80%, CNYUSD down -0.01% Full or partial lockdowns were implemented in major cities across the country in March and April, hampering … [Read more...] about China’s Retail and Factory Activity Slips as COVID-19 Restrictions Hurt Factories
US Inflation to Average 7.1% Annual Rate in Latest Philly Fed Survey
Source: Reuters An economic survey by Philadelphia’s Fed shows that leading economic forecasters expect inflation to average 7.1% annual rate, an increase from previous 3.8%. SPY is up +2.21%, DXY is down -0.13%. The projected inflation is expected to take the annual Personal Consumption Expenditures higher to 5.7% in the current quarter, compared to the previous … [Read more...] about US Inflation to Average 7.1% Annual Rate in Latest Philly Fed Survey
