Source: The Conference Board The Conference Board’s Consumer Confidence Index decreased in November to 109.5 in November from 111.6 in October. DXY down -0.63%, EUR USD up +0.78% The Present Situation Index, which evaluates the current business and labor market conditions, dropped to 142.5 from 145.5 last month.The Expectations Index, which examines consumers’ short-term … [Read more...] about US Consumer Sentiment Fell in November
Forex News
Fed’s Powell Poses Downside Risk to Economy, Complicates Inflation Outlook
Source: MarketWatch Federal Reserve Chairman Jerome Powell stated that the Omicron variant of Covid-19 poses a threat to the U.S. economy. DXY down -0.49%, EUR USD +0.65% In remarks to Senate lawmakers, Powell stated that the recent rise in COVID-19 cases and the emergence of the Omicron variant cause downside risks to employment and economic activity and heightened … [Read more...] about Fed’s Powell Poses Downside Risk to Economy, Complicates Inflation Outlook
Eurozone Inflation Accelerates to Record-High 4.9%
Source: Eurostat Eurozone annual inflation accelerated to a record-high 4.9% in November, driven mainly by the surge in energy prices during the month. EZU is down 0.75% premarket. Annual inflation stood at 4.9% in November, higher than the 4.1% in October and the -0.3% in November last year.Core inflation clocked in at 2.6%, faster than the 2.0% in October and 0.2% … [Read more...] about Eurozone Inflation Accelerates to Record-High 4.9%
China PMI Unexpectedly Grew to 50.1 in November
Source: National Bureau of Statistics of China China’s factory activity unexpectedly rose in November as the surge in raw materials prices and power rationing cooled down. CSI 300 Index down -0.40%, CNY USD up +0.26% The official manufacturing Purchasing Managers’ Index (PMI) expanded to 50.1 in November from 49.2 in October.The world’s second-largest economy has lost its … [Read more...] about China PMI Unexpectedly Grew to 50.1 in November
USDJPY Forecast As Japan Raises Omicron Alert
The USDJPY pair was relatively unchanged on Tuesday morning as the market reflected on Japan’s economic data and the ban on foreign travelers. The pair is trading at 113.65, which is a few points above last Friday’s low at 113.00. Japan economic situation The Japanese economy has staged a relatively slow recovery from the Covid-19 pandemic. This slowdown is mostly because … [Read more...] about USDJPY Forecast As Japan Raises Omicron Alert
