Source: Office for National Statistics Productivity in the United Kingdom fell in the third quarter, marking the lowest level for the year as the government’s furlough program narrowed during the period. Output per hour worked declined by 1.4% quarter-on-quarter to 101.1 in the third quarter, hitting the lowest level in 2020. This is 1.1% higher than the 2019 average.The … [Read more...] about UK Productivity Slips as Furlough Eases
Forex News
Goldman Strategists Encourage Market Players to Take Advantage of Dip in Stocks
Source: Bloomberg Market players should take advantage of the dip in equities and continue to accumulate holdings, according to Goldman Sachs strategists to UBS Global Wealth Management. Strategists led by Cecilia Mariotti believe the selloff in stocks in a number of firms may be overdone soon, with yields unlikely to move higher.Valuations are not expected to become a … [Read more...] about Goldman Strategists Encourage Market Players to Take Advantage of Dip in Stocks
European Union Unemployment Improves Further in November
Source: Eurostat Employment opportunities continued to improve in the European Union in November, as reflected by the unemployment data, which marked a continued decline. VGK is down 0.66%, while EZU is down 1.15% premarket. The seasonally-adjusted unemployment rate in the EU was 6.5% in November, down from 6.7% in October and 7.4% the same month in 2020.This is … [Read more...] about European Union Unemployment Improves Further in November
USDJPY Forecast: The Yen Survives Onslaught Following NFP Release
The market ignores Japan’s CPI and household spending data.NFP data misses the target, easing pressure on the yen.Rising US Treasury yields and Covid-19 restrictions in Japan add pressure to the yen. The US dollar lost steam in its upward rally against the yen on Friday, as the market reacted to weak US jobs data. The USD shed 0.20%of its value to trade at 115.612 at 1726 … [Read more...] about USDJPY Forecast: The Yen Survives Onslaught Following NFP Release
US Service PMI Cools by 7.1% In December After Hitting a Record in November
Source: Institute for Supply Management US Services PMI was recorded at 62% in December, declining by 7.1 percentage points from an all-time high of 69.1% in November. DJI is down -0.19%, DXY is down -0.03%. The overall business activity index fell by 7 percentage points to 67.6%.New orders index edged lower by 8.2 percentage points to 61.5% after hitting an all-time high … [Read more...] about US Service PMI Cools by 7.1% In December After Hitting a Record in November
