Source: Bloomberg European debt market sales hit a fresh record-high, as borrowers flocked ahead of the anticipated interest rate hike. EZU is up 0.08% premarket. Bond sales hit $107 billion, surpassing the previous record set in 2020 when firms increased their borrowing ahead of the COVID-19 pandemic.Among the borrowers that increased funding for the week is Portugal, … [Read more...] about European Debt Sales Hit Record Highs Ahead of Anticipated Rate Hike
Forex News
AUDUSD Forecast as US Inflation Data Fails to Rescue the Greenback
CPI release fails to lift bearish sentiment around the US dollar.Rising commodity prices propel the Australian dollar.Investors keep their eyes on rising Covid-19 infections, US jobless claims, and PPI data. The AUDUSD pair was marginally high on Thursday, as the US dollar struggled to find its footing after two days of losses. At the time of writing, AUDUSD was going for … [Read more...] about AUDUSD Forecast as US Inflation Data Fails to Rescue the Greenback
Crude Oil Inventories Continue to Decline as Refinery Inputs Slip Further
Source: EIA Crude oil inventories of the United States continued to decline, in line with the steady decline of refinery inputs. Inventories for the week ending January 7 stood at 413.3 million barrels, down 4.6 million barrels from the previous week. This is 8% below the five-year average.Declines were seen in the inventories of propane/propylene, which fell by 3.4 … [Read more...] about Crude Oil Inventories Continue to Decline as Refinery Inputs Slip Further
December Inflation Hits 39-Year High as Energy Prices Balloon
Source: Bureau of Labor Statistics Inflation accelerated to the highest pace in nearly four decades in December, driven mainly by the surge in energy prices during the month. Annual inflation in December stood at 7.0%, the fastest increase in 39 years since the level recorded in June 1982.Core inflation surged to 5.5%, marking the highest level recorded in 30 years since … [Read more...] about December Inflation Hits 39-Year High as Energy Prices Balloon
Industrial Production Makes a U-Turn after Jump in the Euro Area and EU in Nov.
Source: Eurostat Industrial production in the euro area increased by 2.3% in November and rose by 2.5% in the EU. DAX is up +0.22%, EURUSD is down -0.02% The improvement in industrial production happens after a fall of 1.3% in the euro area in October and 0.8% in the EU. On a monthly basis, production of non-durable consumer goods in the euro area improved by 3.2% … [Read more...] about Industrial Production Makes a U-Turn after Jump in the Euro Area and EU in Nov.
