Source: IHS Markit Manufacturing in the United Kingdom posted a slight decline in December, dragged down by logistic disruptions and staffing concerns during the month. EWU is up 0.03%. The seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index fell to 57.9 in December from the three-month high of 58.1 in November.The decline came amid the continued constraints … [Read more...] about UK Manufacturing Closes 2021 With Slight Decline
Forex News
New Mortgage Rates Plunges to a Record Low of 1.50% in November in the UK
Source: Bank of England The United Kingdom’s rate on newly drawn mortgages was at a series low of 1.50% in November, with the rate on the outstanding stock of mortgages also at a bottom low of 2.02%. FTSE 100 is up +1.26%, GBPUSD is up +0.21%. Mortgage approvals for purchases of houses held steady at 67,000, close to the 12-month average. Individuals’ net borrowing of … [Read more...] about New Mortgage Rates Plunges to a Record Low of 1.50% in November in the UK
US Unemployment Claims Post Surprise Decline
Source: US Labor Department Jobless claims in the United States posted a surprise decline, reflecting an improvement in labor demand even with the latest uptick in COVID-19 cases. DXY is up 0.17%, while Gold is down 0.12%. Seasonally adjusted initial claims for the week ending December 25 fell to 198,000, down by 8,000 from the previous week’s revised level of 206,000.The … [Read more...] about US Unemployment Claims Post Surprise Decline
Turkish Borrowing Costs Continue Climb Amid Interest Rate Cut
Source: Bloomberg The reduction of interest rates in Turkey is starting to backfire, as indicated by the continued growth in borrowing costs. TUR is down 1.84% premarket. Bank loan rates have soared to as high as 35%, as reported by Union of Chambers and Commodity Exchanges President Rifat Hisarciklioglu.The latest rates compare with the average of around 21% prior to the … [Read more...] about Turkish Borrowing Costs Continue Climb Amid Interest Rate Cut
Gold (XAUUSD) Under Pressure on Rising Treasury Yields as USDJPY Powers Through 115.00 on Dollar Strength
US dollar regains footing after sell-off.Gold isunder pressure amid renewed dollar strength.USDJPY turns bullish amid improved risk appetite. The US dollar was in a bounce-back mode on Thursday morning, recouping most of the losses accrued on Wednesday. The dollar index, which measures the greenback strength, bounced above the 96.00 handle after plunging to one-month … [Read more...] about Gold (XAUUSD) Under Pressure on Rising Treasury Yields as USDJPY Powers Through 115.00 on Dollar Strength
