Source: Destatis Germany’s balance of trade surplus narrowed in August, as the growth of imports outpaced that of exports. EWG is up 0.37% premarket. The country’s balance of payments stood at an 11.8-billion euro surplus during the month, lower than the 16.7 billion euros the same period last year.The latest reading covers a balance of trade in goods up 11.0 billion … [Read more...] about German Balance of Trade Surplus Narrows as Imports Grow Faster Than Exports
Forex News
China’s Service Activity Rebounds in September-Caixin
Source: IHS Markit. China’s services bounced back to growth in September as the resurgence in local COVID-19 cases slowed down and boosted supply and demand in the sector. CSI 300 Index up +1.31%, CNY USD up +0.05% The Caixin China General Services Purchasing Managers’ Index stood at 53.4 last month, up from 46.7 in August, signaling a renewed and strong increase in … [Read more...] about China’s Service Activity Rebounds in September-Caixin
US Unemployment Claims Fall to Four-Week Low
Source: Department of Labor American unemployment claims retreated after three straight weeks of increases, marking the lowest level in a month. DXY is down 0.17%, while Gold is down 0.15%. Initial claims for the week ending October 2 stood at 326,000, down 38,000 from the previous week’s revised level to 364,000.The four-week moving average increased by 3,500 to 344,000 … [Read more...] about US Unemployment Claims Fall to Four-Week Low
Pandemic Restrictions Drag German Industry Production 4.0%
Source: Destatis German industrial production declined by 4.0% in August, dragged by restrictions due to the COVID-19 pandemic. Producers continued to report the operations limited by supply shortages of intermediate products, while production of capital goods slowed 7.8%.Motor vehicles, trailers, and semi-trailers declined by 17.5%, the manufacture of machinery and … [Read more...] about Pandemic Restrictions Drag German Industry Production 4.0%
UK House Prices Climb By 14-Year High
Source: Halifax Average UK house prices climbed by 14-year highs in September to hit the highest on record, driven by the limited supply of available properties. IUKP.L is up 1.37% UK house prices rose by 1.7% or £4,400 to bring the average UK property price at a record £267,587. This is the fastest monthly growth since February 2007.Year-on-year house price inflation … [Read more...] about UK House Prices Climb By 14-Year High
