Source: Office for National Statistics The United Kingdom’s gross domestic product (GDP) growth slowed to a six-month low in July, as construction continued to contract while services were generally flat. EWU is up 0.95% premarket. The GDP grew by 0.1% in July, slower than 1.0% in June and 7.3% in July 2020. This is 2.1% below the pre-COVID-19 level in February … [Read more...] about UK GDP Growth Cools to Six-Month Low in July
Forex News
Dealers Score Record-Low Allotment in US 30-Year Bond Offering
Source: Bloomberg Dealers scored a record-low share of the US 30-year bond auction on Thursday, as demand from indirect bidders soared. Dealers were awarded only 13.1% of the $24-billion bonds, while indirect bidders were awarded 69.7%, above the recent average.Indirect bidders include overseas central banks which placed their bets through the Federal Reserve Bank of New … [Read more...] about Dealers Score Record-Low Allotment in US 30-Year Bond Offering
Unemployment Claims Fall to Pandemic-Low for Second Straight Week
Source: US Labor Department American unemployment claims declined further to mark the lowest level since the COVID-19 pandemic hit for the second consecutive week. DXY is down 0.06%, and Gold is down 0.06%. Seasonally adjusted initial claims for the week ending September 4 fell by 35,000 to 310,000. This is the lowest since claims were at 256,000 on March 14, 2020.The … [Read more...] about Unemployment Claims Fall to Pandemic-Low for Second Straight Week
Robert Kaplan Among Most Aggressive Traders Out of Fed Officials in 2020
Source: WSJ Federal Reserve Bank of Dallas President Robert Kaplan was among the most aggressive in stock trades with multiple holdings valued over $1 million, versus his peers who were more conservative with their moves. BABA is down 1.24%, GOOG up 0.34%, AAPL up 0.34%, AMZN up 0.04%, BA up 1.99%, CVX up 1.02%, FB up 0.37%, and MPC up 1.47%. Disclosures indicate that … [Read more...] about Robert Kaplan Among Most Aggressive Traders Out of Fed Officials in 2020
Coal, Metal Prices Drive China’s Factory Inflation to 13-Year High
Source: National Bureau of Statistics Chinese producer prices growth accelerated to a 13-year high in August due to hikes in coal, chemicals, and metal prices, but economists believe this may already be the peak. MCHI is down 1.65%. The producer price index climbed 9.5% in August versus 9.0% the previous month. This is the biggest growth in 13 years since August 2008.The … [Read more...] about Coal, Metal Prices Drive China’s Factory Inflation to 13-Year High
