Source: Federal Reserve Bank Philadelphia The diffusion index gauging the current general activity in the US rose by 8 points to 23.2 in January, recovering modestly from a decline of 24 points the previous month. SPY is up +0.76%, DXY is down -0.08%. Up to 31% of firms had increases in current activity in January, while 7% reported declines. 60% of firms posted no … [Read more...] about US Manufacturing Improves Modestly in Jan. After Dec. Slump
Forex News
US Jobless Claims Climb for Third Straight Week
Source: US Labor Department Unemployment claims in the United States grew by 55,000 to mark the third straight week of growth. DXY is down 0.06%, while Gold is up 0.31%. Seasonally adjusted initial claims for the week ending January 15 stood at 286,000, up from the previous week’s upward revised level of 231,000.The four-week moving average increased by 20,000 to 231,000 … [Read more...] about US Jobless Claims Climb for Third Straight Week
GBPUSD Prediction Ahead of UK Retail Sales Data
The GBPUSD pair held steady on Thursday morning as investors cheered the UK reopening plans and the latest strong economic data. It is trading at 1.3625, which was a few points above this week’s low of 1.3572. UK reopening plans In November last year, the Boris Johnson administration announced new measures to curb the spread of Omicron. The measures, known as Plan B had … [Read more...] about GBPUSD Prediction Ahead of UK Retail Sales Data
Eurozone Inflation Surged to Record High, 5.0% in December
Source: Eurostat The euro area annual inflation rate was 5.0% in December 2021, a record high compared to 4.9% posted in November. Euro Stoxx 50 up +0.31%, EUR USD down -0.04% Energy prices were the biggest contributor, increasing by 25.9% year on year as the increase in gas and electricity prices hurt household budgets.Meanwhile, price pressures were broader than energy. … [Read more...] about Eurozone Inflation Surged to Record High, 5.0% in December
Housing Starts Defy Expected Decline to Jump by 1.4% in December
Source: Census Bureau US housing starts were posted at an annual rate of 1.702 million in December 2021, an increase of 1.4% from the previous month. SPY is up +0.47%, DXY is down -0.19%. The increase in housing starts beat forecasts as economists were expecting a rate fall to 1.650 million units in December. Compared to December 2020, housing starts rose 2.5%.About … [Read more...] about Housing Starts Defy Expected Decline to Jump by 1.4% in December
