Source: Bureau of Labor Statistics Producer price growth remained at a record-high high in October, driven mainly by the growth in prices for final demand goods during the period. Wholesale prices rose 8.6% from the past year, unchanged from September and faster than the 8.3% recorded in August.The latest is the fastest reading in nearly 11 years since data collection and … [Read more...] about Producer Price Growth Remains at Record-High in October
Forex News
China’s Central Bank to Offer Loans for Environment-Friendly Companies
Source: Bloomberg The People’s Bank of China is set to offer loans to local lenders focused on working toward cutting down carbon emissions. The PBOC said it will lend 60% of the needed funds at an interest rate of 1.75%, which can be used to provide loans at a higher rate.The program seeks to support firms in clean energy, energy-saving, environment-friendly sectors, and … [Read more...] about China’s Central Bank to Offer Loans for Environment-Friendly Companies
Philadelphia Fed Chief Patrick Harker Doesn’t See Rate Hikes Until Taper Is Complete
Source: Reuters Philadelphia Fed President Patrick Harker says any hikes in interest rates will wait until the tapering of bond purchases is complete. SPY is up +0.085%, DXY is down -0.06%. Harker still says the Fed is prepared to act in a high inflation environment if need be. He says inflation could moderate over the next year as imbalances of supply and demand … [Read more...] about Philadelphia Fed Chief Patrick Harker Doesn’t See Rate Hikes Until Taper Is Complete
Eurozone Overall Index Expands for First Time in Four Months
Source: Sentix The Eurozone overall index posted its first expansion since July 2021 in November, driven mainly due to improved expectations. EZU is up 0.08%. The Overall index for the Eurozone stood at 18.3 points in November, marking the first growth in four months since July.The climb was attributed to the rise in expectations, up by 5.2 points.The overall index was … [Read more...] about Eurozone Overall Index Expands for First Time in Four Months
Nonfarm Payrolls Up 531,000 to Bring Unemployment Rate to Pandemic-Low
Source: Bureau of Labor Statistics Nonfarm payrolls jumped by over half a million in October, bringing the unemployment rate to its lowest level since the COVID-19 pandemic hit. Total nonfarm payroll employment grew by 531,000 in October, bringing the monthly growth average to 582,000.Nonfarm employment has grown by 18.2 million so far but remains 4.2 million or 2.8% … [Read more...] about Nonfarm Payrolls Up 531,000 to Bring Unemployment Rate to Pandemic-Low
