Source: IHS Markit The United Kingdom’s private sector growth decelerated to a 10-month in December, as consumer spending was dragged by concerns on the COVID-19 Omicron variant. EWU is up 0.64%. The seasonally adjusted IHS Markit / CIPS Flash UK Composite Output Index declined to a 10-month low of 53.2 in December from 57.6 in November.Output growth posted a steep … [Read more...] about UK Private Sector Growth Slips to 10-Month Low in December
Forex News
Eurozone Ends 2021 With Nine-Month Low Economic Growth
Source: IHS Markit The Eurozone economic growth slowed to a nine-month low in December, dragged by the increase in COVID-19 infection rates in the service sector activity. EZU is up 0.35%. The headline IHS Markit Eurozone Composite PMI declined by two points to 53.4 in December. This is the lowest since March, following the 55.4 in November.The latest figure brought the … [Read more...] about Eurozone Ends 2021 With Nine-Month Low Economic Growth
Fed Expects Three Quarter-Point Increases in 2022, More to Come in Following Years
Source: Federal Reserve Officials of the Federal Reserve expect three quarter-point increases in the benchmark federal funds rate in 2022, along with doubling the reduction of its bond-buying program. Officials of the Fed predict three quarter-point hikes will be appropriate in 2022, following the retention of borrowing costs near zero in over a year since March 2020.The … [Read more...] about Fed Expects Three Quarter-Point Increases in 2022, More to Come in Following Years
Eurozone Records Surplus in International Trade in Goods of €3.6B in October
Source: Eurostat The eurozone posted a €3.6 billion surplus in trade in goods with other parts of the world in October 2021 compared with a surplus of €29.8 billion reported in the same period last year. Euro Stoxx 50 up +1.88%, EUR USD +0.46% The eurozone exports of goods to other parts of the world in October increased by 7.3% to € 214.0 billion from €199.4 billion in … [Read more...] about Eurozone Records Surplus in International Trade in Goods of €3.6B in October
Turkish Lira Plunges to Another Record Low After Central Bank Slashes Rate
Source: Bloomberg. The Turkish lira sinks to another record low level after the central bank downgraded interest rates for a fourth consecutive month, a move that risks undermining currency stability and increasing inflation. TRY USD down -3.87% The lira dropped over 5% against the dollar after the decision, taking its loss after an easing cycle started off in September … [Read more...] about Turkish Lira Plunges to Another Record Low After Central Bank Slashes Rate
