Source: IHS Markit The United Kingdom’s private sector output weakened to a six-month low in August, as staff shortages and supply constraints weighed on business during the period. The UK Composite Output Index fell for the third straight month to 55.3 in August. This is also the slowest expansion since growth was resumed in March.The Service Business Activity Index also … [Read more...] about UK Private Sector Output Falls to 6-Month Low on Staff Shortages, Supply Constraints
Forex News
Eurozone Business Output Cools in August, Still Hovers Around 15-Year High
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
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
