Source: Federal Reserve Officials of the US Federal Reserve are now looking at a more immediate timetable for hike interest rate this year, as inflationary concerns increase. Minutes of the December meeting indicate that officials believe that the current inflation trend warrants lifting rates “sooner or at a faster pace” than anticipated.A number of officials also … [Read more...] about Fed Officials Eye Sooner Interest Rate Hikes in 2022
Forex News
China’s December Services Activity Growth Accelerates
Source: IHS Markit. China’s business activity growth in December rose at its strongest pace since July. CSI 300 Index down -1.02%, CNY USD down -0.18% The Caixin China general composite purchasing managers’ index grew to 53.0 points in December from a three-month low of 51.2 posted in November.Output has now expanded in each of the last four months, with the recent … [Read more...] about China’s December Services Activity Growth Accelerates
Crude Oil Inventories Slip Further to 417.9 Million Barrels
Source: EIA Crude oil inventories in the United States declined further in the past week, as imports fell even as inputs increased. Commercial crude oil inventories for the week ending December 31 fell by 2.1 million barrels from the previous week to 417.9 million barrels. The latest figure brings the inventories about 8% lower than the five-year average for this … [Read more...] about Crude Oil Inventories Slip Further to 417.9 Million Barrels
US Services Growth Cools to Three-Month Low
Source: IHS Markit The growth of US service providers fell to a three-month low in December, dragged by the sustained pressure on capacity during the month. The IHS Markit US Services PMI Business Activity fell to 57.6 in December from 58.0 in November, marking the lowest in three months.Firms reported staffing concerns and difficulties in retaining workers, denting job … [Read more...] about US Services Growth Cools to Three-Month Low
US Private Sector Stages Robust Recoveries After Adding 807,000 Jobs in December
Source: ADP National Employment A total of 807,000 jobs were generated in the US private sector from November to December, more than double an estimate of 400,000. SPY is down -0.18%, DXY is down -0.32%. Large businesses added the bulk of the jobs at 389,000, with those having more than 1,000 employees generating the most employment.Medium businesses contributed to … [Read more...] about US Private Sector Stages Robust Recoveries After Adding 807,000 Jobs in December
