American employers added 475,000 jobs last month, surpassing economists’ estimates and a sharp reversal from January when AD initially posted an unexpected fall in jobs. DXY up +0.20%, EUR USD down -0.22% Wednesday’s figures also included a major upward revision of that January decline to 509,000 jobs added from 301,000 jobs lost posted last month.The US private sector … [Read more...] about US Economy Added 475,000 Jobs in February, Surpassing Estimates
Forex News
Euro Area Inflation Soars to a Record 5.8% In February
Source: Eurostat Annual inflation in the euro area is estimated at 5.8%, a record high, and an increase from 5.1% in January. DAX is up +0.28%, EURUSD is down -0.27%. The above-estimate inflation rate occurs amid concerns that the ongoing crisis in Eastern Europe could cause further rises in energy costs.The energy component posted the strongest inflation, with an … [Read more...] about Euro Area Inflation Soars to a Record 5.8% In February
UK House Prices Top £260,000 for the First-Time Ever on Shortage of Homes for Sale
Source: Nationwide A shortage of homes for sale last month pushed house price growth surging by 12.6% for the seventh straight month. FTSE 100 up +0.67%, GBP USD down -0.05% Prices of the average home rose by 1.7% in February to over £260,000 for the first time, accelerating the rate of growth from 11.2% in January.The intense competition between lenders for mortgage … [Read more...] about UK House Prices Top £260,000 for the First-Time Ever on Shortage of Homes for Sale
UK Mortgage Approvals Jump 74,000 in January
Source: Bank of England The number of mortgage approvals in the United Kingdom stood at 74,000 in January, increasing from 71,000 posted in December 2021. FTSE 100 down -0.85%, GBP USD down -0.12% Approvals for remortgaging rose to 46,200. Net borrowing of mortgage debt surged from £4 billion in December 2021 to £ 5.9 billion in January.Individuals borrowed £0.6 billion … [Read more...] about UK Mortgage Approvals Jump 74,000 in January
China’s Manufacturing and Non-Manufacturing PMIs Beat Estimates despite Omicron-led Disruptions
Source: National Bureau of Statistics of China China’s economy gathered pace in February, signaling the government’s pro-growth policies have begun to take effect, even though small companies are still struggling. CSI 300 Index up +0.83%, CNY USD down -0.06% The official manufacturing purchasing manager’s index jumped to 50.2, topping the average estimate of 49.8 by … [Read more...] about China’s Manufacturing and Non-Manufacturing PMIs Beat Estimates despite Omicron-led Disruptions
