Source: Bloomberg French inflation steadied in December, signaling price pressures might have come close to the peak in the eurozone after surging on energy costs in the last few months. ENX down -1.40%, EUR USD down -0.11% The 3.4% year-on-year increase posted in the eurozone’s second-largest economy was slightly smaller than the initial estimate of 3.5% by … [Read more...] about French Inflation Edges Down Slightly to 3.4% YoY in Dec. on Easing Energy Prices
Forex News
The US Dollar Price Forecast: GBPUSD Retreats From 6-week Highs as USDJPY Powers to Five-Week Highs
US dollar strengthens on rising yields.GBPUSD pulls back from six-week highs.USDJPY powers to five-week highs. The US dollar started the year on a high note, rising against the basket of major currencies. The dollar index appears to have found support above the 96.00 handle after coming under pressure late last year. The rally remains well supported by a surge in Treasury … [Read more...] about The US Dollar Price Forecast: GBPUSD Retreats From 6-week Highs as USDJPY Powers to Five-Week Highs
UK Manufacturing Closes 2021 With Slight Decline
Source: IHS Markit Manufacturing in the United Kingdom posted a slight decline in December, dragged down by logistic disruptions and staffing concerns during the month. EWU is up 0.03%. The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index fell to 57.9 in December from the three-month high of 58.1 in November.The decline came amid the continued constraints … [Read more...] about UK Manufacturing Closes 2021 With Slight Decline
New Mortgage Rates Plunges to a Record Low of 1.50% in November in the UK
Source: Bank of England The United Kingdom’s rate on newly drawn mortgages was at a series low of 1.50% in November, with the rate on the outstanding stock of mortgages also at a bottom low of 2.02%. FTSE 100 is up +1.26%, GBPUSD is up +0.21%. Mortgage approvals for purchases of houses held steady at 67,000, close to the 12-month average. Individuals’ net borrowing of … [Read more...] about New Mortgage Rates Plunges to a Record Low of 1.50% in November in the UK
US Unemployment Claims Post Surprise Decline
Source: US Labor Department Jobless claims in the United States posted a surprise decline, reflecting an improvement in labor demand even with the latest uptick in COVID-19 cases. DXY is up 0.17%, while Gold is down 0.12%. Seasonally adjusted initial claims for the week ending December 25 fell to 198,000, down by 8,000 from the previous week’s revised level of 206,000.The … [Read more...] about US Unemployment Claims Post Surprise Decline
