Source: Eurostat The European Union posted an annual inflation of 3.2% in August, a jump from 2.5% in July. The inflation in the euro area was 3.0%, a gain from 2.2% in July. DAX is up +0.24%, EURUSD is up +0.10%. Fig: Annual Inflation Rates in August Malta, Greece, and Portugal posted the lowest annual inflation rates at 0.4%, 1.2%, and 1.3%, respectively. … [Read more...] about Inflation Reaches 3.2% In the EU in August, Higher Than 3.0% In the Euro Area
Forex News
NZDUSD Forecast as Strong GDP Data Point to a Hawkish RBNZ
The NZDUSD price held steady after the relatively strong New Zealand GDP data published on Thursday. The pair is trading at 0.7115, which is a few pips below this month’s high of 0.7170. New Zealand GDP data The New Zealand economy outperformed expectations in the second quarter as the country continued to open up. According to the country’s statistics agency, the economy … [Read more...] about NZDUSD Forecast as Strong GDP Data Point to a Hawkish RBNZ
Jobless Claims Rise by 20,000 as Hurricane Ida Complicates Labor Market Recoveries
Source: Department of Labor US jobless claims reached 332,000 in the week that ended September 11 after a jump of 20,000 from the previous week. SPY is down -0.52%, DXY is up +0.51%. Fig: US Initial Claims The claims increase reflected devastation by Hurricane Ida which shut down production in the Gulf Coast and several other areas.The claims shed only 4,250 to reach … [Read more...] about Jobless Claims Rise by 20,000 as Hurricane Ida Complicates Labor Market Recoveries
U.S. Retail Sales Unexpectedly Rose in August
Source: U.S. Department of Commerce. U.S. retail sales unexpectedly rose in August, likely bolstered by back-to-school shopping and child tax credit payments from the government, which could hamper expectations for sharp decline in economic growth in the third quarter. DXY up +0.51%, EUR USD down -0.53% Retail sales increased by 0.7% last month. July data was revised … [Read more...] about U.S. Retail Sales Unexpectedly Rose in August
US Manufacturing Activity Index Rose to 30.7 in September as New Orders Cooled
Source: Federal Reserve Bank of Philadelphia. The Philadelphia Fed Manufacturing Index in the US jumped to 30.7 in September of 2021 from 19.4 in August, beating forecasts of 18.8, pointing out that general activity expanded faster. DXY up +0.48%, EUR USD down -0.52% The US gauge for shipments improved, while the new orders and employment indexes cooled down slightly.The … [Read more...] about US Manufacturing Activity Index Rose to 30.7 in September as New Orders Cooled
