Source: IHS Markit The German economy slowed to a seven-month low in September, dragged by supply constraints during the month. The headline Flash Germany PMI Composite Index fell to 55.3, down from 60.0 the previous month. This is the lowest since February.The latest reading brought the third-quarter average to 59.2, up from 57.4 the second quarter and the highest in … [Read more...] about German Economy Slips to Seven-Month Low in September
Forex News
Fed Hints on Tapering By November, Rate Hike in 2022
Source: WSJ The Federal Reserve indicated the possible tapering of its bond-buying program in November, and the possible interest rate hike next year amid the prolonged inflation uptick. DXY is down 0.37% The rate-setting committee said it could start to cut down on its $120-billion monthly bond purchases as soon as the next meeting scheduled November 2 and 3.Officials … [Read more...] about Fed Hints on Tapering By November, Rate Hike in 2022
US Crude Oil Inventories Down Amid Growth in Refinery Inputs and Imports
Source: EIA Inventories of US commercial crude oil declined in the past week even as inputs and imports posted growth, according to data released by the Energy Information Administration. Commercial crude oil inventories for the week ending September 17 fell by 3.5 million barrels from the previous week to 414.0 million barrels. This is 8% below the five-year … [Read more...] about US Crude Oil Inventories Down Amid Growth in Refinery Inputs and Imports
Existing-Home Sales Down in August as Buyers Await Additional Inventory
Source: National Association of Realtors Existing-home sales declined in August after two consecutive months of growth, even as median prices fell to a three-month low. VNQ is up 1.16% Total existing-home sales stood at a seasonally adjusted annual rate of 5.88 million in August, down 2.0% from 6 million the previous month and 1.5% from 5.970 million a year ago.The South … [Read more...] about Existing-Home Sales Down in August as Buyers Await Additional Inventory
Bank of America Trims China GDP Outlook On Deepening Evergrande Woes
Source: Reuters The Bank of America downgraded its growth forecast for China for the next three years due to growing issues of China Evergrande and other concerns such as the pandemic. 3333 is down 0.44%. China’s gross domestic product for this year was cut down to 8.0% from 8.3% previously, citing the impact of the Evergrande crisis and regulatory crackdowns.The Bank of … [Read more...] about Bank of America Trims China GDP Outlook On Deepening Evergrande Woes
