Source: Office for National Statistics UK’s gross domestic product rose past the February 2020 levels by 0.7% after posting 0.9% gains in November, higher than an increase of 0.2% the previous month. FTSE 100 is down -0.12%, GBPUSD is up +0.12%. Construction output rose by 3.5% in November, while production and services saw a 1.0% and 0.7% increase, respectively. … [Read more...] about UK GDP Surpasses Pre-Pandemic Level After a 0.9% Jump in November
Forex News
China’s Trade Surplus Rises to Annual Record of $676.43B as Exports Jump 30%
Source: National Bureau of Statistics of China China’s trade surplus surged to a record-high in 2021, as exports surpassed expectations during the global pandemic. CSI 300 Index down -0.82%, CNY USD up +0.22% The trade surplus reached $676.43 billion in 2021, the highest level since the records were created in 1950, an increase from $523.99 billion in 2020.China … [Read more...] about China’s Trade Surplus Rises to Annual Record of $676.43B as Exports Jump 30%
US Producer Prices Increase by a Lower 0.2% in Dec. to Close at a 12-Year High
Source: Bureau of Labor Statistics The US posted a 0.2% increase in producer prices in December, a lower gain compared to a jump of 1.0% in November. SPY is up +0.021%, DXY is down -0.30%. Despite the slower increase in producer prices, the final demand costs rose the highest in a calendar year since 2010 at 9.7% in 2021.Final demand services increased by 0.5% in December … [Read more...] about US Producer Prices Increase by a Lower 0.2% in Dec. to Close at a 12-Year High
Lira Weakens Again as Global Reserves Hit the Lowest in Two Decades
Source: Reuters Turkish lira fell almost 3% against the dollar on Thursday, with investors getting concerned over the unorthodox policies by the state to spur growth and increase exports. USDTRY is currently up +2.04%. Surging inflation has seen the lira continue to fall against the dollar, with the government already having slashed the key rate by 500 basis points since … [Read more...] about Lira Weakens Again as Global Reserves Hit the Lowest in Two Decades
US Jobless Claims Up for Second Straight Week
Source: US Labor Department Unemployment claims in the United States continued to grow in the first week of the year, marking the second straight week of increases. DXY is down 0.24%, while Gold is down 0.21%. Seasonally adjusted initial claims for the week ending January 8 increased by 23,000 to 230,000, from the previous week’s unrevised 207,000.The four-week moving … [Read more...] about US Jobless Claims Up for Second Straight Week
