Source: IHS Markit Eurozone business activity growth cooled in August, but remained at historic highs after the 15-year high performance recorded in July. The headline IHS Markit Eurozone Composite PMI stood at 59.5 in August. This matched the June figure to post the second-fastest expansion since 2006, following July’s 60.2.The Services PMI Activity Index eased to 59.7, … [Read more...] about Eurozone Business Output Cools in August, Still Hovers Around 15-Year High
Forex News
USDCAD Forecast As Crude Oil Prices Tumble
The USDCAD price spiked to the highest level since February this year as the market focused on the hawkish Federal Reserve minutes and the falling crude oil prices. The pair rose to 1.2850, which was about 7% above the lowest level in May. Hawkish Fed and strong US dollar The USDCAD pair is in a sharp uptrend mostly because of the overall stronger US dollar. Indeed, … [Read more...] about USDCAD Forecast As Crude Oil Prices Tumble
China’s Slow Bond Offerings to Dent Infra Investment More Than Initially Expected
Source: Bloomberg The slow rollout of China’s bonds to local governments will hit the country’s infrastructure program more than anticipated, coupled with curbs on the property market. Local government special bonds will have reached 1.8 trillion yuan or $277 billion by the end of the month, accounting for 48% or less than half of the 2021 quota.This is slower than the … [Read more...] about China’s Slow Bond Offerings to Dent Infra Investment More Than Initially Expected
China’s Key Rates Unchanged for 16th Straight Month in Line with Expectations
Source: Trading Economics China kept its key policy rates unchanged for the 16th straight month, keeping in line with market consensus. The People’s Bank of China maintained the one-year loan prime rate at 3.85%. It was last lowered from 4.05% in April 2020.The one-year loan prime rates cover most of the new and outstanding loans in China.The five-year loan prime rate was … [Read more...] about China’s Key Rates Unchanged for 16th Straight Month in Line with Expectations
UK Retail Sales Post Steepest Decline in Seven Months
Source: Office for National Statistics UK’s combined online and in-shop retail sales volumes declined by the fastest pace in seven months in July but remained above levels seen before the COVID-19 pandemic hit. Retail sales volumes fell 2.5%, following the 0.2% climb in June. This is the biggest decline since January.The latest reading remains 5.8% higher than the levels … [Read more...] about UK Retail Sales Post Steepest Decline in Seven Months
