Source: Bloomberg. The Federal Reserve is likely hinting at its meeting next week that it is moving towards scaling back monthly asset purchases and make a formal announcement in November. DXY up +0.14%, EUR USD down -0.11% The survey of 52 economists also forecasted the U.S. central bank would not interest rates near zero through 2022 before delivering two-quarter point … [Read more...] about Fed Set for November’s Bond Tapering, Rate Hikes in 2023
Forex News
Eurozone Construction Posts Slight Rebound, EU Remains in Negative Territory
Source: Eurostat Construction output growth in the Eurozone posted a slight rebound in July, while the European Union’s print remained in negative territory for the third straight month. EURUSD is down 0.05%. Total construction in the Euro area grew by 0.1% in July, up from -0.6% in June. This follows three consecutive months of contraction.When compared with the same … [Read more...] about Eurozone Construction Posts Slight Rebound, EU Remains in Negative Territory
UK Retail Sales Slip to Five-Month Low in August
Source: Office for National Statistics Retail sales in Great Britain fell to a five-month low in August, as food stores, department stores, and computer stores reported lower figures during the month. The retail sales index fell by 0.9% to 107.2 in August from 108.3 in July. This is the lowest since March’s 103.4.Volumes for the three months to August were 0.3% higher … [Read more...] about UK Retail Sales Slip to Five-Month Low in August
Inflation Reaches 3.2% In the EU in August, Higher Than 3.0% In the Euro Area
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
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
