Source: ADP Research Institute The US private employment declined for the first time in 13 months in January, dragged by ongoing concerns regarding the Omicron variant of COVID-19. Private sector employment fell by 301,000 jobs in January, a reversal of the 776,000 growth in December 2021 and a 196,000 increase the previous year.The latest reading is the first contraction … [Read more...] about US Private Employment Contracts for the First Time Since December 2020
Forex News
Mortgage Refinances up 18% as Inventories Remain Low
Source: CNBC Mortgage applications saw a double-digit climb in the past week, with the average purchase loan size jumping to record highs as inventories dwindle. XHB is up 1.10%. Seasonally adjusted applications to refinance a home loan increased by 18% week to week, but 50% lower than the same week in the previous year.The share of mortgage activity grew to 57.3% of … [Read more...] about Mortgage Refinances up 18% as Inventories Remain Low
Eurozone Inflation Climbs to New All-Time High
Source: Eurostat Eurozone inflation continued to accelerate in January, opening the year with a fresh record-high of 5.1%. EZU is up 0.63%, and VGK up 0.45% premarket. The latest reading compares with the 5.0% in December and the 0.9% recorded in January the previous year.Energy remained the biggest driver, recording the highest annual rate at 28.6% from 25.9% the … [Read more...] about Eurozone Inflation Climbs to New All-Time High
US Manufacturing Growth Eases in January to the Lowest in 14 Months
Source: Institute for Supply Chain Management US Manufacturing PMI was posted at 57.6% in January, down by 1.2 percentage points from December. SPY is down -0.30%, DXY is down -0.27%. The PMI was the lowest since November 2020 but underlined manufacturing expansion for the 20th straight month.Supplier deliveries held at 64.6, an encouraging figure as analysts projected a … [Read more...] about US Manufacturing Growth Eases in January to the Lowest in 14 Months
Job Openings Climb in January as Hires Decline
Source: Bureau of Labor Statistics There were more job openings at the close of 2021, with fewer hires recorded in the last month of the year. Job openings for the month stood at 10.925 million, higher than the 10.775 million in November and the 6.752 million in December 2020.The rate for the month was unchanged at 6.8% from November but higher than the 4.5% recorded the … [Read more...] about Job Openings Climb in January as Hires Decline
