Source: European Central Bank The Euro area current account slipped in August, both from the previous month and the same month last year. EZU is down 0.18% premarket. The current account surplus stood at €13 billion in August, down from €23 billion in July and €24 billion in August 2020.The current account surplus for the 12 months to August stood at €328 billion or 2.8% … [Read more...] about Euro Area Current Account Surplus Slips to €13 Billion
Forex News
UK Inflation Posts Surprise Retreat in September
Source: Office for National Statistics Inflation in the United Kingdom posted a surprise deceleration in September, following the uptick recorded the previous month. EWU is down 0.50% premarket. The Consumer Price Index (CPI) posted an annual inflation rate of 3.1%, following the 3.2% recorded the previous month and 0.5% a year ago.The latest reading is slower than the … [Read more...] about UK Inflation Posts Surprise Retreat in September
US Housing Starts Fall to Five-Month Low in September
Source: US Census Bureau US housing starts slipped to a five-month low in September, with building permits down and housing completions lower than the previous months. Privately-owned housing starts in September stood at 1.555 million, down 1.6% in September 2020. This is the lowest since April’s 1.514 million.The latest reading compares with the 1.580 million in August … [Read more...] about US Housing Starts Fall to Five-Month Low in September
Evergrande Makes $19 Million Onshore Bond Payment
China Evergrande Group made an onshore bond coupon payment on Tuesday amid worries about a potential offshore default by the debt-ridden developer later in the week. EGRNY up +1.06%. Evergrande’s flagship unit had remitted funds to pay an onshore bond coupon of $19 million.China’s second-largest developer needs to prioritize its limited funds towards the domestic market, … [Read more...] about Evergrande Makes $19 Million Onshore Bond Payment
IMF Downgrade Asia’s Growth Outlook, Cautions of Supply Chain Risks
Source: Reuters The International Monetary Fund cut this year’s economic growth projections for Asia and cautioned that new cases of COVID-19 infections and supply chain constraints pose a downside risk to the forecast. CSI 300 Index up +0.98%, Nikkei 225 up +0.65% China’s economy will expand by 8.0% this year and 5.6% in 2022, but the economic recovery remains … [Read more...] about IMF Downgrade Asia’s Growth Outlook, Cautions of Supply Chain Risks
