Source: Bloomberg European Central Bank is projecting that the euro area inflation will average 1.4% in 2023, below the target 2%. The central bank puts 2021 consumer prices to rise by 2.4% and 2.2% next year. DAX is up +0.089%, EURUSD is down -0.08% ECB still says the present elevated inflation is transitory and is linked to the economic reopening and continuing … [Read more...] about ECB Projects Euro-Are Inflation to Fall Below Target in 2023, Warns of Headwinds
Forex News
US Jobless Claims Mark Pandemic-Low for Fifth Straight Week
Source: Department of Labor US unemployment claims continued to fall, hitting the lowest level since the COVID-19 pandemic hit for the fifth straight week. DXY is up 0.32%, while Gold is up 1.82%. Initial claims for the week ending November 6 were recorded at 267,000, down 4,000 from the previous week’s 271,000. The four-week moving average stood at 278,000, down … [Read more...] about US Jobless Claims Mark Pandemic-Low for Fifth Straight Week
Inflation Soars to 31-Year High in October on Surging Energy Prices
Source: Bureau of Labor Statistics American consumer prices grew by a 31-year high in October, with the growth broad-based recorded during the period. The Consumer Price Index for All Urban Consumers clocked in at 6.2% in October, up from 5.4% recorded in September.The latest reading is above the Fed’s target of 2% and the highest since November 2020.Inflation was highest … [Read more...] about Inflation Soars to 31-Year High in October on Surging Energy Prices
US Jobless Claims Fall by 4,000 to Another Pandemic Low
Source: Department of Labor US jobless claims for the week that ended November 6 were 267,000, down 4,000 from the previous week. DJI is down -0.15%, DXY is up +0.20%. On a four-week moving average, the jobless claims were 278,000, a decline of 7,250 from the previous week. The claims were the lowest since March 14.Continuing claims were 2.16 million, down by 59,000 … [Read more...] about US Jobless Claims Fall by 4,000 to Another Pandemic Low
Inflation Draws Near Bank’s Target, 2% Over Medium Term, Says ECB Member
Source: CNBC. The European Central Bank is close to reaching its inflation target of 2% over the medium-term as the market participants await a new policy meeting in December. Euro Stoxx 50 down -0.15%, EUR USD down -0.14% ECB observers are projecting the central bank to develop plans on how to adjust monetary stimulus after its meeting next month.In October, ECB … [Read more...] about Inflation Draws Near Bank’s Target, 2% Over Medium Term, Says ECB Member
