The UK economy rose at a much slower pace than expected in July and still remains over 2% below pre-pandemic levels. Source: Office for National Statistics FTSE 350 Index up +0.17%, EUR USD up +0.03% In the three months ending in July, the UK economy grew 3.6%, largely due to the performance of the services sector. This partly reflects the gradual reopening of … [Read more...] about UK Economic Recovery Stalled in July Amidst Increasing Worker Shortages
Forex News
Biden-Xi Jinping’s Call Creates Optimism for Trade Relations as Global Stocks and Oil Gains
Source: Markets Insider Global stocks jumped Friday after President Biden and Chinese leader Xi Jinping held talks for the first time in seven months. SSE Composite Index up +0.27%, Hang Seng Index up +1.91%, Nikkei up 1.25% Dow Jones futures are 0.4% higher, while those on the S&P 500 and the tech-heavy Nasdaq improved 0.3%, implying a turn higher for US stocks when … [Read more...] about Biden-Xi Jinping’s Call Creates Optimism for Trade Relations as Global Stocks and Oil Gains
Producer Price Growth Slows to Three-Month Low in August
Source: Bureau of Labor Statistics Final demand prices continued to climb in August, albeit at the slowest pace in three months, mainly driven by increases in services during the month. DBC is up 1.44%, while GSG is up 1.55%. The Producer Price Index for final demand grew 0.7% in August, down from 1.0% in July. This is the slowest in three months since the 0.5% recorded … [Read more...] about Producer Price Growth Slows to Three-Month Low in August
UK GDP Growth Cools to Six-Month Low in July
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
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
