Source: ZEW German economic sentiment declined further in April, as experts assume that economic conditions are expected to deteriorate moving forward. EWG is up 0.44%, while DAX is down 1.82% premarket. The ZEW Indicator of Economic Sentiment for Germany dropped 1.7 points to -41.0 points.The assessment of the economic situation also declined by 9.4 points to -30.8, the … [Read more...] about German Economic Sentiment Falls Further to -41.0
Forex News
UK Employment Unchanged at 75.5%
Source: Office for National Statistics The United Kingdom’s employment rate was unchanged in the December to February period while unemployment eased. EWU is down 0.12%, while EZU is up 0.19% premarket. The UK employment rate was largely unchanged at 75.5% during the quarter but remained below levels seen prior to the COVID-19 pandemic.The number of full-time employees … [Read more...] about UK Employment Unchanged at 75.5%
Federal Reserve Seen to Hike Rates in May and June – Poll
Source: Reuters Economists expect the Federal Reserve to tighten interest rates in the next two months amid a 40% chance of a recession in 2022. QQQ is down 1.77%, while SPY is down 1.20%. A survey of over 100 economists shows that the Fed is predicted to hike interest rates by back-to-back half-point increases in May and June.Some 85 of the 102 economists surveyed expect … [Read more...] about Federal Reserve Seen to Hike Rates in May and June – Poll
US Inflation Expectations Year-Ahead Hits a Record 6.6% in March
Source: New York Fed The US consumers expect the median consumer prices in the one-year-ahead period to be 6.6%, a new series high and an increase from February estimates of 6.0%. SPY is down -1.10%, DXY is +0.10%. Consumers are still optimistic that inflation will wane in the medium and longer-term, with expectations of a gain of 3.7% in three years, down from February … [Read more...] about US Inflation Expectations Year-Ahead Hits a Record 6.6% in March
UK Economic Growth Slows on Lower Production, Construction
Source: Office for National Statistics The United Kingdom’s economic growth slowed in February, led mainly by the services sector, which was partially offset by other sectors. EWU is down 0.35%, while EZU is up 0.40% premarket. The gross domestic product (GDP) grew by 0.1% in February, slower than the 0.8% growth recorded in January.Growth was led mainly by services which … [Read more...] about UK Economic Growth Slows on Lower Production, Construction