Source: Ifo German business climate posted a slight rebound in April, with firms less pessimistic about the coming months. EWG is down 0.96%, while DAX is up 1.77% premarket. The German business climate index stood at 91.8 in April, up from 90.8 in March but still lower than the 96.4 recorded in the same month last year.The indicator for the current situation posted … [Read more...] about German Business Climate Rebounds Slightly in April
Forex News
Eurozone, EU Construction Production Decelerate in February
Source: Eurostat Construction production in both the eurozone and the European Union slowed in February, as building construction growth was halved versus the previous month. EZU is down 1.61%, while VGK is down 0.86% premarket. Total construction in the eurozone grew by 1.9% in February, slower than the 3.9% growth recorded in January.Building construction expanded by … [Read more...] about Eurozone, EU Construction Production Decelerate in February
US Business Output Falls to Three-Month Low as Inflation Continues to Accelerate
Source: Markit Economics Business activity in the United States dropped to a three-month low in April, on the back of the continuous increase in prices. QQQ is down 0.75%, while SPY is down 1.19%. The US PMI Composite Output Index slipped to 55.1 from 57.7 in March, hitting the lowest level in three months.The decline was attributed to the challenges such as rising … [Read more...] about US Business Output Falls to Three-Month Low as Inflation Continues to Accelerate
Eurozone Current Account Surplus Narrows Slightly to €21 Billion
Source: European Central Bank The eurozone posted a slightly narrower surplus in February due to the secondary income deficit recorded in the period. EZU is down 0.26%, while VGK is down 0.50%. The current account surplus stood at €21 billion in February, €1 billion lower than the €22-billion surplus recorded in the month prior.The latest level comes as credit increased … [Read more...] about Eurozone Current Account Surplus Narrows Slightly to €21 Billion
British Retail Sales Fall by 1.4% in March on Rising Cost of Living
Source: Office for National Statistics UK retail sales volumes fell 1.4% in March, with the biggest driver emerging from non-store retailing, which plunged 7.9%. FTSE 100 down -0.64%, GBP USD down -1.06% Online sales dropped significantly last month, with shoppers cutting unnecessary purchases as the cost-of-living crisis started to bite.Online sales bore the burden, … [Read more...] about British Retail Sales Fall by 1.4% in March on Rising Cost of Living
