The GBPUSD pair has been under intense pressure in the past few weeks. This trend has happened as Brexit risks return and as the market waits for the upcoming UK inflation and retail sales data. The pair was trading at 1.3435 on Tuesday morning. This price was about 6% below the highest level this year. Brexit risks remain The UK and the European Union reached a Brexit … [Read more...] about GBPUSD Forecast Ahead of UK Inflation and Retail Sales Data
Forex News
GDP Jumps in the Euro Area and EU in Q3. Employment Rate Rises by 0.9%
Source: Eurostat Gross domestic product rose by 2.2% in the euro area in the third quarter of 2021 from the previous quarter. The GDP increased by a lower 2.1% in the EU. DAX is up +0.27%, EURUSD is up +0.04%. GDP was up 3.7% and 3.9% in the euro area and EU, respectively from the prior year. Employment rose by 0.9% in both the euro area and EU from the … [Read more...] about GDP Jumps in the Euro Area and EU in Q3. Employment Rate Rises by 0.9%
New York Manufacturing Activity Gained Momentum in November
Source: Federal Reserve Bank of New York New York’ manufacturing activity picked up in November on strong demand and job creation. DXY down -0.01%, EUR USD down -0.04%. The Empire State Manufacturing Survey’s general business conditions index increased to 30.9 in November from 19.8 in October.In November, 43% of the surveyed firms indicated that the business conditions … [Read more...] about New York Manufacturing Activity Gained Momentum in November
Trade Surplus Declines to €7.3B in the Euro Area, €0.5B in the EU in Sept.
Source: Eurostat International trade in goods in the euro area reached a surplus of 7.3 billion euros, declining from a surplus of 24.1 billion euros in the prior year. DAX is up +0.15%, EURUSD is up +0.05%. The decline in trade surplus in the euro area reflected a higher 21.6% increase in imports, compared to a 10.0% jump in exports. Intra-euro area trade increased by … [Read more...] about Trade Surplus Declines to €7.3B in the Euro Area, €0.5B in the EU in Sept.
China’s Industrial Output, Retail Expands in October Topping Expectations
Source: National Bureau of Statistics of China China’s industrial output and retail sales expanded at a faster rate than expected in October despite new curbs to control COVID-19 outbreaks and supply constraints. CSI 300 Index down -0.12%, CNY USD down -0.09% Output expanded 3.5% in October from the same period a year ago, rising from a 3.1% increase in September.The … [Read more...] about China’s Industrial Output, Retail Expands in October Topping Expectations
