US dollar firms ahead of FED report.USDJPY turns bullish after BOJ purchases.USDCAD rallies amid CAD weakness. The US dollar is holding steady against the majors as investors await the much-awaited Federal Reserve policy meeting report. At stake is whether the central bank will accelerate asset purchases to tame runaway inflation and provide hints of rate hikes next year. … [Read more...] about USDJPY Breakout Looms on Dollar Strength as USDCAD Rallies on Oil Prices Retreat
Forex News
Producer Prices Accelerate to Series-High in November
Source: Bureau of Labor Statistics Producer prices climbed to a series-high in November, driven mainly by higher energy costs during the month. The final demand index surged by 9.6% in the 12 months ended November, marking the biggest climb since data collection started in November 2010.The latest figure compares with the 6.3% in October, and the 1.0% the same month last … [Read more...] about Producer Prices Accelerate to Series-High in November
IEA Downgrades Supply, Demand Forecasts for 2022
Source: IEA The International Energy Agency has downgraded its supply and demand forecast for next year, citing the impact of the resurgence of COVID-19 cases on the global recovery. The IEA has cut down both its supply and demand forecasts from non-members of the Organization of the Petroleum Exporting Countries by 100,000 barrels a day.The downgrade comes as it expects … [Read more...] about IEA Downgrades Supply, Demand Forecasts for 2022
Industrial Production Makes a Comeback in the Euro Area and EU in October
Source: Eurostat The euro area posted a 1.1% increase in industrial production in October, after falling by 0.2% the previous month. In the EU, industrial production rose by 1.2%, compared to a decline of 0.5% in September. DAX is down -0.14%, EURUSD is up +0.21%. Capital goods production improved by 3.0% in the euro area in October from September. Durable goods were up … [Read more...] about Industrial Production Makes a Comeback in the Euro Area and EU in October
UK Unemployment Fell to 4.2% in Q3 Despite Closure of Job Furlough Scheme
Source: Office for National Statistics The UK job market strengthened further despite ending furlough as the number of payrolled workers rose by a record 257,000 last month. FTSE 100 up +0.39%, GBP USD up +0.28% The Office for National Statistics stated there is no sign on whether ending the furlough support scheme in September affected the jobs market, with workers on … [Read more...] about UK Unemployment Fell to 4.2% in Q3 Despite Closure of Job Furlough Scheme
