The EURUSD has been under intense pressure lately and is hovering near its lowest level since July last year. It has crashed by more than 8% this year. Similarly, the euro is trading at its lowest point in 21 months against the British pound. The EURCHF has also fallen to the lowest level since May 2020. The divergence between ECB and Fed The main reason why the EURUSD … [Read more...] about EURUSD Prediction as the ECB and Fed Divergence Widens
Forex News
Interest Rate Hikes Unlikely for 2022, Says ECB’s Lagarde
Source: European Central Bank European Central Bank President Christine Lagarde emphasized that the “conditions to raise rates are unlikely to be met next year.” Euro Stoxx 50 down -0.33%, EUR USD -0.63% Lagarde made the comments to Frankfurt European Banking Congress when she warned that the ECB “must not rush into a premature tightening” of monetary policy.The euro … [Read more...] about Interest Rate Hikes Unlikely for 2022, Says ECB’s Lagarde
Retail Sales in UK 0.8% up in October on Early Christmas Shopping
Source: Office for National Statistics Shoppers have started shopping for Christmas early, as UK sales at clothing stores jumped to near pre-pandemic levels, but online sales plunged to record-lows. FTSE 100 down -0.25%, GBP USD down -0.46% The Office for National Statistics stated that the rush to get presents pushed sales volumes up 0.8% in October, ending five straight … [Read more...] about Retail Sales in UK 0.8% up in October on Early Christmas Shopping
US Mortgage Rates Rise to the Highest in November
Source: Bloomberg The average rate for the US 30-year mortgage was 3.10%, the highest since October 28 and up from 2.98% posted last week. SPY is down -0.20%, DXY is down -0.12%. The rise in the mortgage rates reflects investors’ anticipation of bond purchase tapering by the Fed.The uptick in rates means that the US is shifting away from the historic low rates posted in … [Read more...] about US Mortgage Rates Rise to the Highest in November
US Manufacturers Remain Upbeat as Diffusion Index Edges 15 Points Higher in Nov.
Source: Federal Reserve Bank of Philadelphia The diffusion index gauging current activity in US manufacturing rose by 15 points to 39.0 in November. The index is the highest since April. SPY is up +0.27%, DXY is down -0.04%. Almost 42% of firms reported increases in activity, up from 40% in October. 3% reported declines, a significant improvement from 17% in … [Read more...] about US Manufacturers Remain Upbeat as Diffusion Index Edges 15 Points Higher in Nov.
