Source: IHS Markit The eurozone economic growth slowed to a 10-month low in January, dragged by the impact of the COVID-19 omicron variant. EZU is down 2.23%, while VGK is down 1.03% premarket. The IHS Markit Eurozone PMI Composite Output Index stood at 52.3 in January, lower than the 53.3 in December. This is the weakest growth since March 2021.The decline reflects a … [Read more...] about Eurozone Economic Output Cools to 10-Month Low
Forex News
UK Services Firms Hike Prices at Fastest Rate Since 1996
Source: IHS Markit British service companies have increased their prices at the fastest rate in 25 years as rising energy bills, and transport costs increased the cost of living. FTSE 100 down -0.13%, GBP USD down -0.13% The IHS Markit/CIPS Purchasing Manager’s Index (PMI) grew to 54.1 in January from December’s 10-month low of 53.6. Any score above 50.0 signals … [Read more...] about UK Services Firms Hike Prices at Fastest Rate Since 1996
American Crude Oil Inventories Decline as Gasoline, Distillate Fuel Production Slip
Source: EIA Crude oil inventories in the United States retreated in the past week, even as both refinery inputs and imports increased during the period. Commercial crude oil inventories fell by 1.0 million barrels to 415.1 million barrels in the week ending January 28, 2022. This is 9% below the five-year average.Increases were reported in the inventories of motor … [Read more...] about American Crude Oil Inventories Decline as Gasoline, Distillate Fuel Production Slip
US Private Employment Contracts for the First Time Since December 2020
Source: ADP Research Institute The US private employment declined for the first time in 13 months in January, dragged by ongoing concerns regarding the Omicron variant of COVID-19. Private sector employment fell by 301,000 jobs in January, a reversal of the 776,000 growth in December 2021 and a 196,000 increase the previous year.The latest reading is the first contraction … [Read more...] about US Private Employment Contracts for the First Time Since December 2020
Mortgage Refinances up 18% as Inventories Remain Low
Source: CNBC Mortgage applications saw a double-digit climb in the past week, with the average purchase loan size jumping to record highs as inventories dwindle. XHB is up 1.10%. Seasonally adjusted applications to refinance a home loan increased by 18% week to week, but 50% lower than the same week in the previous year.The share of mortgage activity grew to 57.3% of … [Read more...] about Mortgage Refinances up 18% as Inventories Remain Low
