Source: IHS Markit The growth of the US private sector continued to expand in September but cooled to the weakest pace in 12 months. The IHS Markit Flash US Composite PMI Output Index fell to 54.5 in September, down from 55.4 in August. This is the slowest growth since September 2020.Services slipped to 54.4 from 55.1 in the previous month, marking the lowest in 14 … [Read more...] about US Private Sector Slows to 12-Month Low as COVID Concerns Persist
Forex News
US Unemployment Claims Climb to Month-High
Source: Department of Labor American jobless claims increased for the second consecutive week to hit the highest level in a month. DXY is down 0.44%, while gold is down 1.23%. Seasonally adjusted initial claims for the week ending September 18 stood at 351,000. This is the highest since August 21’s 354,000.The previous week’s level was revised higher to 332,000, up 3,000 … [Read more...] about US Unemployment Claims Climb to Month-High
Bank of England Hints at Possible Rate Hike Within 2021
Source: Bank of England The Bank of England hinted at a possible interest rate hike as soon as November, with inflation seen to breach 4% amid the surge in energy prices. The central bank noted that some developments had strengthened the case for modest tightening, but uncertainties remain.Any tightening in policy would begin with a hike in interest rates, even if it … [Read more...] about Bank of England Hints at Possible Rate Hike Within 2021
UK Output Cools to Seven-Month Low in September on Supply-Chain Disruptions
Source: IHS Markit The United Kingdom output declined for the fourth straight month in September, dragged by ongoing supply-chain issues. The IHS Markit / CIPS Flash UK Composite Output Index fell to 54.1 in September. This is the weakest since March.Business activity dropped to a seven-month low of 54.6, as new order growth and job creation slowed, while employment fell … [Read more...] about UK Output Cools to Seven-Month Low in September on Supply-Chain Disruptions
Eurozone Business Activity Slips to Five-Month Low as Costs Hit 21-Year High
Source: IHS Markit The Eurozone business activity slowed to a five-month low in September, as supply issues and pandemic concerns weighed down output while costs rose to a 21-year high. The Eurozone PMI Composite Output Index slipped to 56.1 from 59.0 in August. This is the lowest since April but remains above the pre-pandemic trend.Costs surged to post a 21-year high … [Read more...] about Eurozone Business Activity Slips to Five-Month Low as Costs Hit 21-Year High
