Source: WSJ Turkish lira traded at a record low of 10.97 against the dollar after the country’s central bank trimmed the key rate from 16% to 15% USDTRY is up +4.67%. The fall in the lira happens amid rapid inflation that rose by almost 20% in October that is posing a challenge to growth. The move by the central bank reflects calls by President Recep Tayyip … [Read more...] about Turkey’s Lira Trades at a Record Low as Central Bank Cuts Rate to 15%
Forex News
U.S. Housing Starts Dropped 0.7% in October as Building Permits Increases
Source: U.S. Census Bureau U.S. homebuilding unexpectedly dropped in October as activity remains hampered by shortages of materials and scarce land and labor. DXY down -0.03%, EUR USD down -0.07% Housing starts dropped slightly by 0.7% to a seasonally adjusted annual pace of 1.520 million units in the previous month.Data for September was revised downwards to a pace of … [Read more...] about U.S. Housing Starts Dropped 0.7% in October as Building Permits Increases
EURUSD Under Pressure Near 1.1300 as GBPUSD Bottoms Out After UK CPI
US Dollar powers to 16-month highs.EURUSD slides to 16-month lows.GBPUSD bottoms out after UK CPI. The US dollar steadied at 16-month highs against the major currencies on Wednesday morning as retail data for October raised bets of the Federal Reserve hiking interest rates much earlier. The dollar index has already powered through the 96.04 level affirming the dollar … [Read more...] about EURUSD Under Pressure Near 1.1300 as GBPUSD Bottoms Out After UK CPI
Gasoline, Food Drive US Retail Sales Higher in October
Source: US Census Bureau The United States reported a slight increase in sales for retail and food services in October, led mainly by gasoline, food services, and drinking places. Advance monthly sales in October stood at $638.2 billion, up 1.7% from September’s $627.5 billion and up 16.3% from the previous year.Total sales for the three months to October posted a 15.4% … [Read more...] about Gasoline, Food Drive US Retail Sales Higher in October
UK Employment Climbs as Job-to-Job Moves Hit Record-High
Source: Office for National Statistics The United Kingdom posted an increase in employment in the third quarter as job-to-job moves climbed to a record high during the period. EWU is up 0.60% premarket. The UK employment rate stood at 75.4% in the third quarter, 0.4 percentage points higher than the previous quarter. This is equivalent to 32.523 million.Total job-to-job … [Read more...] about UK Employment Climbs as Job-to-Job Moves Hit Record-High
