Source: Reuters Germany's annual consumer price inflation rose to hit a new 13-year record high in August, caused by growing price pressures as the economy recovers from the pandemic. DAX up +0.077%, EURUSD down -0.10 Consumer prices, harmonized to make it comparable with inflation data from other EU countries, increased by 3.4% compared with 3.1% in July.The August … [Read more...] about German Annual Inflation Jumped 3.4% in August, a New 13-Year Record High
Forex News
GBPUSD Weekly Outlook: The Pair Is Bullish on Business Confidence Boost
UK Business confidence jumped 6% points to 36% in August 2021 (YoY). Approximately 13% of UK businesses that were not stopped from trading at the height of the pandemic reported lower-than-normal stock levels. The US GDP rise of 6.6% in Q2 2021 (QoQ) failed to meet analysts’ estimates at 6.7%. The GBPUSD pair added 0.50% as of August 27, 2021, to close at … [Read more...] about GBPUSD Weekly Outlook: The Pair Is Bullish on Business Confidence Boost
Japan PM Challenger Wants Trillions of Yen in Stimulus
Source: Reuters Former Foreign Minister Fumio Kishida, said to be a frontrunner for the Prime Minister position in the upcoming election, is calling for several trillions of yen to be unleashed as economic stimulus. Kishida wants the stimulus released as soon as possible, as reported on Nikkei.The stimulus will cover provisions for all the economic sectors and regions in … [Read more...] about Japan PM Challenger Wants Trillions of Yen in Stimulus
Powell Maintains Tapering Possible Within 2021, Calls Delta Threat ‘Near-Term’ Risk
Source: WSJ Fed Chair Jerome Powell on Friday maintained the stance that the bond-buying program could be cut down in the coming months, citing favorable prospects even as the delta variant poses risks in the near term. Powell said most participants believed conditions could warrant a tapering in the $120-billion monthly purchases starting this year during last … [Read more...] about Powell Maintains Tapering Possible Within 2021, Calls Delta Threat ‘Near-Term’ Risk
Consumer Sentiment Plummets to Nine-Year Low as Delta Cases Surge
Source: University of Michigan Consumer sentiment fell to its lowest level in nearly a decade in August, weighed down by the surge in COVID-19 delta cases and inflationary concerns during the month. The Index of Consumer Sentiment fell to 70.3 in August, the weakest reading since December 2011’s 69.9.This is 13.4% lower than July’s 81.2, marking the biggest drop in over a … [Read more...] about Consumer Sentiment Plummets to Nine-Year Low as Delta Cases Surge
