Source: IHS Markit The United States welcomed 2022 with an 18-month low business output, dragged by weaker demand and issues brought about by the COVID-19 Omicron variant. XLI is up 0.40%. The IHS Markit Flash US Composite PMI Output Index stood at 50.8 in January, up from the 57.0 in December. This is the weakest performance since July 2020.Issues were recorded in both … [Read more...] about Omicron Drags US Output Growth to 18-Month Low
Forex News
UK Business Activity Falls to 11-Month Low
Source: IHS Markit The United Kingdom opened the year with an 11-month low business activity, as COVID-19 restrictions were reimplemented due to the Omicron variant. EWU is down 0.68% premarket. The IHS Markit/CIPS Flash UK Composite Output Index stood at 53.4, down from 53.6 in December. This is the lowest since the recovery started last spring.The decline was attributed … [Read more...] about UK Business Activity Falls to 11-Month Low
Eurozone Business Activity Opens 2022 With 11-Month Low
Source: IHS Markit The eurozone business sector contracted for the second straight month in January to mark the lowest level in 11 months, dragged by the impact of the COVID-19 Omicron variant. EZU is down 1.39%. The IHS Markit Eurozone Composite PMI slipped to 52.4 in January from 53.3 in December. This is the slowest since the recovery started in March 2021.Services … [Read more...] about Eurozone Business Activity Opens 2022 With 11-Month Low
China’s Central Bank Trims 14-Day Reverse Repo Rate to 2.25%
Source: CNBC China’s central bank cut the funding cost of 14-day reverse repos after injecting 150B yuan through the liquidity tool into the banking industry. CSI 300 Index up +0.16%, CNY USD up +0.20% The 14-day reverse repurchase rate was reduced by 10 basis points to 2.25% from the initial rate, 2.35%.In an online statement, PBOC stated that the liquidity offerings … [Read more...] about China’s Central Bank Trims 14-Day Reverse Repo Rate to 2.25%
European Consumer Confidence Slips Further in January
Source: European Commission European consumer confidence decreased slightly in the first month of 2022, bringing the indicator closer to its long-term average. EZU is down 1.11%, while VGK is down 1.00%. The DG ECFIN consumer confidence indicator for the European Union was -10.0 in January, marking a 0.4-point decline from December.The consumer confidence indicator for … [Read more...] about European Consumer Confidence Slips Further in January
