Source: FT With financial markets selling off on fears over the new COVID-variant Omicron, Fed Chair’s signal support for faster tapering showing taming inflation is a top priority. DXY down -0.19%, EUR USD up +0.23% On Tuesday, Jay Powell effectively dumped the Fed’s previous stance on rising inflation and declared his approval of faster tapering of Fed’s massive … [Read more...] about Fed to Consider Faster Bond-Buying Taper, Inflation A Key Concern — Powell
Forex News
Washington’s Brexit Fears Over Northern Ireland Delays US-UK Trade Agreement
Source: FT The US is putting on hold a deal to remove Trump-era tariffs on UK and aluminum on Washington’s concerns about London’s threats to adjust post-Brexit trading guidelines in Northern Ireland. DXY down-0.16%, EUR USD up +0.17%. Brussels and Washington have always warned London that single-handedly changing the EU-UK agreement could undermine peace on the island of … [Read more...] about Washington’s Brexit Fears Over Northern Ireland Delays US-UK Trade Agreement
South Korean Consumer Prices Jump 3.7% YoY, Fastest Rate in 10Yrs
Source: FT South Korean inflation has risen at its fastest pace in nearly 10 years, as the country’s consumer price index matched economists’ expectations with a 3.7% YoY in November. KRW USD up +0.01%, KOSPI up +1.57% The monthly inflation figure in Asia’s fourth-largest economy topped forecasts of a 3.1% increase and has surpassed the Bank of Korea’s 2% target for … [Read more...] about South Korean Consumer Prices Jump 3.7% YoY, Fastest Rate in 10Yrs
Manufacturing Sector Climbs for 18th Straight Month in November
Source: ISM The manufacturing sector climbed for the 18th straight month in November, driven mainly by strong demand amid the ongoing supply chain constraints. The November Manufacturing PMI climbed by 0.3 percentage points to 61.1% from 60.8% in October. This is the 18th straight month of expansion.The New Orders Index grew 1.7 percentage points to 61.5%, while the … [Read more...] about Manufacturing Sector Climbs for 18th Straight Month in November
US Nonfarm Payroll Growth Slows in November
Source: ADP Private sector employment growth posted a slight decline in November, following two straight months of increases. Total US nonfarm private employment increased by 534,000 jobs in November, down from the 570,000 recorded in October.Large businesses accounted for 277,000 of the jobs added in the month, followed by medium businesses with 142,000 and small … [Read more...] about US Nonfarm Payroll Growth Slows in November
