Germany’s trade surplus was accompanied by a positive current account in the balance of payment (BoP) at €13.1 billion (+84.51%) for May 2021 (YoY). The ECB incorporated climate change into its action plan in its monetary policy statement with reflections on environmental sustainability as a financial requirement. The Australian government tightened its Covid-19 … [Read more...] about EURAUD: Pair Strengthens As Australia Introduces New Covid-19 Restrictions
Forex News
UK Economic Expansion Slows in May on Lower Manufacturing Output
Source: Office for National Statistics The UK economy posted its fourth straight month of expansion in May, albeit slower than the previous month, as manufacturing output was dragged by the global chip shortage. The gross domestic product grew by 0.8% in May, slower than the 2.0% in April, and 3.1% below the pre-COVID-19 levels recorded in February 2020.Manufacturing … [Read more...] about UK Economic Expansion Slows in May on Lower Manufacturing Output
China’s Inflation Cools as Producer Prices Post First Decline in Eight Months
China’s inflation cooled in June, with producer prices posting the first monthly decline in eight months. The producer price index grew 8.8% in June, following the 9% peak recorded in May. This is the first monthly decline since October 2020.The consumer price index rose 1.1%, slower than 1.3% in May.The decline is in line with the drop in both input and output prices in the … [Read more...] about China’s Inflation Cools as Producer Prices Post First Decline in Eight Months
EURNZD: Euro Strengthens Ahead of ECB Monetary Policy Statement
Germany’s current account had declined 29% to €21.30 billion in April 2021 from €30 billion (a decrease of €8.7 billion).The ECB is expected to release the policy statement on July 8, 2021.Homeowners in New Zealand have been warned of an increase in mortgage rates, with the OCR expected to be reviewed upwards in November 2021. The EURNZD pair added 0.37% as of 8:54 pm GMT on … [Read more...] about EURNZD: Euro Strengthens Ahead of ECB Monetary Policy Statement
American Jobless Claims Slightly Up to 373,000
Source: US Labor Department US unemployment claims posted a slight increase, following the fresh pandemic-low recorded in the previous week. DXY is down 0.41%, XAU is up 0.06%. Seasonally adjusted unemployment claims for the week ending July 3 grew by 2,000 to 373,000.The previous week’s level was revised 7,000 higher to 371,000, the lowest since the COVID-19 pandemic hit … [Read more...] about American Jobless Claims Slightly Up to 373,000
