Source: ifo InstituteGerman ifo Business Climate Index plunged to 96.5 points in November, from 97.7 points the previous month on fresh concerns of the fourth wave of Covid-19. DAX is down -1.16%, EURUSD is down -0.24%. The supply constraints also weighed on the sentiment, with the businesses becoming less satisfied with the current situation. Business expectations … [Read more...] about German Business Sentiment Wanes in Nov. on Fresh Covid Impacts, Bottlenecks
Forex News
UK Retail Sales Accelerate in November on Early Christmas Shopping
Source: Office for National Statistics UK retail sales improved in November as shoppers went for early Christmas shopping and Black Friday. FTSE 100 up +0.25%, GBPUSD down -0.22% The Office for National Statistics stated that retail sales rose by 1.4% for the month, rising from a 0.8% increase in October.That figure was better than anticipated, with analysts having … [Read more...] about UK Retail Sales Accelerate in November on Early Christmas Shopping
ECB Maintains Further Economic Support to Scale Back Bond Buys Under PEPP
Source: European Central Bank The European Central Bank has said it will, in the next quarter, cut its 1.85 trillion euros or $2.19 trillion bond buying under the Pandemic Emergency Purchase Program due in March. DAX is up +1.17%, EURUSD is up +0.17%. While maintaining the rates unchanged, ECB says bond purchases under the Asset Purchase Programme will be increased to … [Read more...] about ECB Maintains Further Economic Support to Scale Back Bond Buys Under PEPP
US Manufacturing PMI Fell to 57.8 in Mid-December
Source: IHS Markit US manufacturing activity slowed to a 12-month low in December, but there are signals that labor and material supply shortages at factories are starting to ease. DXY down -0.16%, EUR USD up +0.13% IHS Markit’s flash manufacturing PMI dropped to 57.8 in mid-December from 58.3 in November. That was the lowest since December last year.Manufacturing remains … [Read more...] about US Manufacturing PMI Fell to 57.8 in Mid-December
US Jobless Claims Return to 200,000 Level
Source: US Labor Department American unemployment claims grew back to the 200,000 level in the past week, following the 52-year low recorded in the past seven days. DXY is down 0.47%, while Gold is up 1.13%. Seasonally adjusted initial claims for the week ending December 11 came in at 206,000, up 18,000 from the previous week.The previous week’s level was upgraded by … [Read more...] about US Jobless Claims Return to 200,000 Level
