Source: IHS Markit The eurozone business sector contracted for the second straight month in January to mark the lowest level in 11 months, dragged by the impact of the COVID-19 Omicron variant. EZU is down 1.39%. The IHS Markit Eurozone Composite PMI slipped to 52.4 in January from 53.3 in December. This is the slowest since the recovery started in March 2021.Services … [Read more...] about Eurozone Business Activity Opens 2022 With 11-Month Low
Forex News
China’s Central Bank Trims 14-Day Reverse Repo Rate to 2.25%
Source: CNBC China’s central bank cut the funding cost of 14-day reverse repos after injecting 150B yuan through the liquidity tool into the banking industry. CSI 300 Index up +0.16%, CNY USD up +0.20% The 14-day reverse repurchase rate was reduced by 10 basis points to 2.25% from the initial rate, 2.35%.In an online statement, PBOC stated that the liquidity offerings … [Read more...] about China’s Central Bank Trims 14-Day Reverse Repo Rate to 2.25%
European Consumer Confidence Slips Further in January
Source: European Commission European consumer confidence decreased slightly in the first month of 2022, bringing the indicator closer to its long-term average. EZU is down 1.11%, while VGK is down 1.00%. The DG ECFIN consumer confidence indicator for the European Union was -10.0 in January, marking a 0.4-point decline from December.The consumer confidence indicator for … [Read more...] about European Consumer Confidence Slips Further in January
China Introduces More Rate Cuts as Country Moves to Boost Economy
Source: Bloomberg The People’s Bank of China has decided to slash the loan costs of its short-term policy loan a week after it reduced a key interest rate. MCHI is up 0.15% premarket. The PBOC trimmed the overnight standing lending rate by 10 basis points to 2.95% based on a central bank statement dated January 17.Both the seven-day and one-month rates were also cut down … [Read more...] about China Introduces More Rate Cuts as Country Moves to Boost Economy
Great Britain Sales Close 2021 With Biggest Drop in 11 Months
Source: Office for National Statistics Great Britain retail sales declined by an 11-month high in December 2021, dragged mainly by the drop in non-food stores during the month. EWU is down 0.64%. Retail sales volumes for the month dropped by 3.7%, following the 1.0% growth in November and the 3.7% expansion in October.The latest figure reflects the steepest drop since … [Read more...] about Great Britain Sales Close 2021 With Biggest Drop in 11 Months
