Source: Office for National Statistics The British economy posted a rebound in the full-year 2021, even with the contraction recorded in the last month of the year. EWU is up 0.14%, and VGK up 0.02% premarket. Full-year economic growth stood at 7.5% in 2021, up from the 9.4% decline in 2020. Fourth-quarter growth was recorded at 1%.Fourth-quarter growth was driven by … [Read more...] about UK Economy Rebounds in 2021 Even With Contraction in December
Forex News
UK Narrows Its Trade Deficit by £0.2 Billion in the Fourth Quarter of 2021
Source: Office for National Statistics The UK posted a goods and services deficit of 12.8 billion pounds in the fourth quarter of 2021, down by 0.2 billion pounds. FTSE 100 is down -0.77%, GBPUSD is up +0.01%. The trade in goods deficit was 43.0 billion pounds in the quarter, down by 0.2 billion pounds. Goods imports rose by 6.1 billion pounds while exports increased by … [Read more...] about UK Narrows Its Trade Deficit by £0.2 Billion in the Fourth Quarter of 2021
US 30-Year Mortgage Rate Climbs to 3.69%, the Most in 2 Years
Source: Bloomberg Mortgage rates for a 30-year loan in the US is 3.69%, a gain from last week’s 3.55% and the highest since January 2020. SPY is down -0.28%, DXY is down -0.22%. The rise in mortgage rates tracks a rise in US 10-year Treasury yields, which are close to hitting 2%.Freddie Mac’s chief economist Sam Khater says the normalization of the economy after the … [Read more...] about US 30-Year Mortgage Rate Climbs to 3.69%, the Most in 2 Years
US Jobless Claims Down for Third Straight Week
Source: US Labor Department The United States opened February will fewer jobless claims, marking the third straight week of declines. Seasonally adjusted initial claims for the week ending February 5 stood at 223,000, down by 16,000 from the previous week’s upward revised 239,000.The four-week moving average fell by 2,000 to 253,250 from the previous week’s upward revised … [Read more...] about US Jobless Claims Down for Third Straight Week
US Inflation Soars to Four-Decade High of 7.5%
Source: US Bureau of Labor Statistics US inflation ballooned to the highest level in 40 years in January, driven by consumer demand and the impact of the COVID-19 pandemic on supplies. Annual inflation clocked in at 7.5%, marking the fastest rate in four decades since February 1982. Inflation stood at 0.6% versus the previous month.The biggest annual growth was recorded … [Read more...] about US Inflation Soars to Four-Decade High of 7.5%
