Source: Markit Economics The United Kingdom’s service sector expanded for the third straight month in March, indicating a continued rebound after the slowdowns seen due to the COVID-19 Omicron variant. EWU is up 0.03% premarket. The seasonally adjusted S&P Global / CIPS UK Services PMI Business Activity Index jumped to 62.6 in March from 60.5 in the previous month.The … [Read more...] about UK Service Sector Growth Eases to 62.6
Forex News
Eurozone Economic Growth Weakens, Business Confidence Drops to 17-Month Low
Source: Markit Economics The eurozone economy continued to expand in March, albeit at a slower pace than February’s five-month high, driven mainly by the easing of COVID-19 restrictions. EZU is down 0.89%, and VGK down 0.43% premarket. The Final Eurozone Composite Output Index stood at 54.9, lower than the 55.5 recorded in February.Growth was driven by the service sector, … [Read more...] about Eurozone Economic Growth Weakens, Business Confidence Drops to 17-Month Low
US Treasury Blocks Russian Debt Payments, Raising Concerns of Default
Source: Reuters The United States prevented the Russian government on Monday from making payments of its sovereign debt of over $600 million from reserves held at US banks. RUBUSD down -0.86% The move seeks to intensify pressure on Moscow and eat into its holdings of dollars.Under sanctions imposed after Russia’s invasion of Ukraine on February 24, foreign currency … [Read more...] about US Treasury Blocks Russian Debt Payments, Raising Concerns of Default
Fed’s Rate Tightening to Bring About ‘Very Volatile Markets,’ Jamie Dimon Says
Source: FT The tightening of monetary policy in the United States could bring about “very volatile markets,” according to JPMorgan Chief Executive Jamie Dimon. QQQ is up 1.69% Dimon in a letter to investors said he did not envy the Federal Reserve given the measures it would have to take, as inflation continues to mark historic highs.Dimon believes that measures that the … [Read more...] about Fed’s Rate Tightening to Bring About ‘Very Volatile Markets,’ Jamie Dimon Says
US Manufactured Goods Orders Fall in February After 9 Straight Months of Increases
Source: Census Bureau US new orders for manufactured goods fell by 0.5% or $2.7 billion to $542.0 billion in February, the first decline after nine straight months of increases. SPY is up +0.50%, DXY is up +0.27%. The new orders for manufactured durable goods declined by 2.1% or $5.8 billion to $271.7 billion accelerating a four straight month of decreases. Shipments … [Read more...] about US Manufactured Goods Orders Fall in February After 9 Straight Months of Increases
