Forex News

Source: NBS  China recorded a 9% increase in industrial profits in November, which hit 805.96 billion yuan or $126.54 billion, dropping from a gain of 24.6% the previous month. CSI 300 is down -0.041%, USDCNY is up +0.07%.  The slow increase in industrial profits reflected a decline in prices of some raw materials amid slowing domestic demand and a weak property … [Read more...] about China’s Industrial Profits Cools to a 9% y/y Growth in November

Source: Bloomberg Oil prices declined amid the low liquidity into the holiday season, but market watchers are looking out for the impact of the Omicron variant moving forward. London futures fell by 0.9% to hover around $76 a barrel on Friday. Only some 125,000 contracts were traded, lower than the usual volume of just below 1 million.With the thin volumes, prices settled … [Read more...] about Oil Prices Slip Ahead of Christmas Holidays

Source: Bloomberg Europe’s gas issues could last until 2023, with forward prices for the summer already hitting record-highs. Traders believe the ongoing gas issues will push through until early 2023, with the forward prices already more than double in the past month.Forward prices for the summer season have already hit a record-high of over 100 euros or $113 a … [Read more...] about European Gas Constraints to Last Into 2023, Traders Believe

The GBPUSD pair took off as investors reflected on the latest news on the Omicron variant and the expectation that the Bank of England (BOE) will hold steady in the coming year. The pair rose to a high of 1.3400, which was the highest level since November 22nd. Omicron fears wane The GBPUSD pair declined sharply last week even after the BOE decided to hike interest rates. … [Read more...] about GBPUSD Forecast: Extremely Bullish After the Breakout

Source: University of Michigan  The Index of Consumer Sentiment was recorded at 70.6 in December, up 4.7% from the previous month but down 12.5% from the prior year. DJI is up +0.62%, EURUSD is down -0.09%. The rise in consumer confidence reflected projected gains in household income, with consumers expecting a further surge of 2.8% next year, up from 1.8% the previous … [Read more...] about US Consumer Confidence Improves in December With Rising Household Income