Source: ZEW The Euro Area economic sentiment slipped for the fifth straight month in October to hit a 19-month low, weighed down by global supply constraints. EZU is up 0.21%. The ZEW Indicator of Economic Sentiment for the Euro Area fell to 21 in October from 31.1 in September.It is the fifth straight month of decline since June’s 81.3 and the weakest performance since … [Read more...] about Euro Area Economic Sentiment Marks 19-Month Low
Forex News
IMF Downgrades Its Global Growth Outlook Over Supply Chain Concerns and COVID-19
Source: CNBC. The International Monetary Fund (IMF) is now less bullish about the global economy for 2021 but forecasts moderate growth over the medium term. DXY up +0.05%, EUR USD down -0.01% In its World Economic Outlook on Tuesday, the Fund stated it projects global gross domestic product to expand by 5.9% this year-0.1% lower than its July forecast.For 2022, the … [Read more...] about IMF Downgrades Its Global Growth Outlook Over Supply Chain Concerns and COVID-19
German Economic Sentiment Down for Fifth Straight Month
Source: ZEW German economic sentiment slipped for the fifth straight month in October, with the assessment of the current situation declining for the first time after eight months. DAX is up 0.02%. The ZEW Indicator of Economic Sentiment for Germany fell 4.2 points to 22.3 points in September, marking the fifth straight month of decline.The assessment of the German … [Read more...] about German Economic Sentiment Down for Fifth Straight Month
Bets Against Pound at the Fastest Rate in 2 Years as Investors Preempt BOE Decision
Source: Bloomberg Investor bets against the British pound have risen at the fastest rate in at least two years in anticipation of Bank of England’s policy tightening this week. GBPUSD is up +0.13%. Currency traders are speculating that the Bank of England’s move to contain price pressures could crowd out growth and dampen consumer sentiment. The move is also expected to … [Read more...] about Bets Against Pound at the Fastest Rate in 2 Years as Investors Preempt BOE Decision
German Wholesale Inflation Hits 47-Year High in September
Source: Destatis German wholesale selling prices rose by a 47-year high in September, mainly driven by the hikes in prices of raw materials and intermediate products. EWG is up 0.25%. Wholesale selling prices surged by 13.2% in September, marking the fastest annual inflation since June 1974 during the first oil crisis.The latest inflation print follows 12.3% in August and … [Read more...] about German Wholesale Inflation Hits 47-Year High in September
