Source: Office for National Statistics Inflation in the United Kingdom posted a surprise deceleration in September, following the uptick recorded the previous month. EWU is down 0.50% premarket. The Consumer Price Index (CPI) posted an annual inflation rate of 3.1%, following the 3.2% recorded the previous month and 0.5% a year ago.The latest reading is slower than the … [Read more...] about UK Inflation Posts Surprise Retreat in September
Forex News
US Housing Starts Fall to Five-Month Low in September
Source: US Census Bureau US housing starts slipped to a five-month low in September, with building permits down and housing completions lower than the previous months. Privately-owned housing starts in September stood at 1.555 million, down 1.6% in September 2020. This is the lowest since April’s 1.514 million.The latest reading compares with the 1.580 million in August … [Read more...] about US Housing Starts Fall to Five-Month Low in September
Evergrande Makes $19 Million Onshore Bond Payment
China Evergrande Group made an onshore bond coupon payment on Tuesday amid worries about a potential offshore default by the debt-ridden developer later in the week. EGRNY up +1.06%. Evergrande’s flagship unit had remitted funds to pay an onshore bond coupon of $19 million.China’s second-largest developer needs to prioritize its limited funds towards the domestic market, … [Read more...] about Evergrande Makes $19 Million Onshore Bond Payment
IMF Downgrade Asia’s Growth Outlook, Cautions of Supply Chain Risks
Source: Reuters The International Monetary Fund cut this year’s economic growth projections for Asia and cautioned that new cases of COVID-19 infections and supply chain constraints pose a downside risk to the forecast. CSI 300 Index up +0.98%, Nikkei 225 up +0.65% China’s economy will expand by 8.0% this year and 5.6% in 2022, but the economic recovery remains … [Read more...] about IMF Downgrade Asia’s Growth Outlook, Cautions of Supply Chain Risks
Construction Retreats in Euro Area, EU
Source: Eurostat The construction sector in both the Euro area and the European Union retreated in August, dragged mainly by the decline in civil engineering and building activities during the month. Seasonally adjusted total construction production in the Euro area declined by 1.3%, and 1.8% in the European Union. Building output declined by 1.3%, while civil … [Read more...] about Construction Retreats in Euro Area, EU
