Source: European Commission Economic sentiment in both the Eurozone and the European Union hit historic highs in October, driven mainly by growth in services, construction, and retail. EZU is up 0.06% premarket. The Economic Sentiment Indicator in the EU climbed by 1.0 point to 117.6, the highest reading in eight months since February.Sentiment in the Eurozone gained 0.8 … [Read more...] about Economic Sentiment in Eurozone Hits Two-Year High, EU at Eight-Month High
Forex News
US Congress Seek to Revamp Biden’s Tax Proposals in the Social Spending Bill
Source: Bloomberg Joe Biden’s tax plan is getting an overhaul as the Democrats push for a suitable proposal that can receive wider Congress support. SPY is up +0.17% on pre-market, DXY is up +0.11%. The Democrats will reportedly retain most of the Trump’s administration’s 2017 tax cuts, but corporations will get a new minimum levy, following deliberations by House … [Read more...] about US Congress Seek to Revamp Biden’s Tax Proposals in the Social Spending Bill
USDJPY Forecast as Divergence Between Fed and BOJ Widens
The USDJPY pair was little changed on Thursday morning after the latest Bank of Japan (BOJ) interest rate decision. Investors are also eyeing the upcoming election in the country. It is trading at 113.65, which is about 0.95% below the highest level this month. BOJ decision The USDJPY has been in a bullish momentum in October as investors bet on the divergence between the … [Read more...] about USDJPY Forecast as Divergence Between Fed and BOJ Widens
Employed Persons in Germany Jumps 0.1% but Still 0.9% Below Pre-Pandemic Levels
Source: Destatis The number of employed persons in Germany increased by 0.1% or 26,000 in September compared to August, but remained 0.9% below the pre-pandemic period. DAX is down -0.28%, EURUSD is down -0.05%. The number of employed people without seasonal adjustment increased by 0.6% or 275,000 in September compared to the prior month due to the autumn upturn.The … [Read more...] about Employed Persons in Germany Jumps 0.1% but Still 0.9% Below Pre-Pandemic Levels
US Crude Inventories Rebound to 430.8 Million Barrels
Source: EIA American commercial crude oil posted a slight rebound, as both refinery inputs and imports posted growth. Inventories for the week ending October 22 climbed by 4.3 million barrels to 430.8 million barrels. This is about 6% lower than the five-year average.Increases were reported in propane/propylene total commercial petroleum inventories, while finished … [Read more...] about US Crude Inventories Rebound to 430.8 Million Barrels
