Forex News

Source: MarketWatch Federal Reserve Chairman Jerome Powell stated that the Omicron variant of Covid-19 poses a threat to the U.S. economy. DXY down -0.49%, EUR USD +0.65% In remarks to Senate lawmakers, Powell stated that the recent rise in COVID-19 cases and the emergence of the Omicron variant cause downside risks to employment and economic activity and heightened … [Read more...] about Fed’s Powell Poses Downside Risk to Economy, Complicates Inflation Outlook

Source: Eurostat Eurozone annual inflation accelerated to a record-high 4.9% in November, driven mainly by the surge in energy prices during the month. EZU is down 0.75% premarket. Annual inflation stood at 4.9% in November, higher than the 4.1% in October and the -0.3% in November last year.Core inflation clocked in at 2.6%, faster than the 2.0% in October and 0.2% … [Read more...] about Eurozone Inflation Accelerates to Record-High 4.9%

Source: National Bureau of Statistics of China China’s factory activity unexpectedly rose in November as the surge in raw materials prices and power rationing cooled down. CSI 300 Index down -0.40%, CNY USD up +0.26% The official manufacturing Purchasing Managers’ Index (PMI) expanded to 50.1 in November from 49.2 in October.The world’s second-largest economy has lost its … [Read more...] about China PMI Unexpectedly Grew to 50.1 in November

The USDJPY pair was relatively unchanged on Tuesday morning as the market reflected on Japan’s economic data and the ban on foreign travelers. The pair is trading at 113.65, which is a few points above last Friday’s low at 113.00. Japan economic situation The Japanese economy has staged a relatively slow recovery from the Covid-19 pandemic. This slowdown is mostly because … [Read more...] about USDJPY Forecast As Japan Raises Omicron Alert

Source: NAR American pending home sales rebounded in October to assure that levels hit the highest in 15 years, according to data released by the National Association of Realtors. XHB is down 0.10%. The Pending Home Sales Index climbed 7.5% to 125.2 in October, above the 100 level equal to the level of contact activity in 2001.Contract signing rose at the fastest pace in … [Read more...] about US Pending Home Sales Rebound to Cement 15-Year High Levels in 2021