Manufacturing output rose to its highest reading in three years in February to mark the ninth consecutive month of expansion, according to the latest Institute for Supply Management (ISM) Report on Business. Manufacturing PMI grew 2.1 percentage points to 60.8% in February from 58.7% in January. This is the highest since 60.8% in February 2018, indicating strong sector … [Read more...] about Manufacturing Output Grows to 3-Year High in February
Forex News
Global Food Prices Soar as Economies Recover from COVID-19
Food prices across the globe continue to climb faster than consumer prices and income due to a surge in raw material costs, according to a Bloomberg report. Global food prices surged to a fresh six-year high in January due to higher prices of staples like grains, sunflower seeds, soybeans, and sugar. Prices unlikely to drop soon due to poor weather, increased demand, and … [Read more...] about Global Food Prices Soar as Economies Recover from COVID-19
UK Inoculation Program Provides Glimpse of COVID-19 Vaccine Effectiveness
The United Kingdom's inoculation program has provided a glimpse on the effectiveness of vaccines against the COVID-19 pandemic, with data compiled and put into charts by CNBC. Vaccines made by Pfizer-BioNTech were the first approved and rolled out in December, followed by Oxford-AstraZeneca.Deaths falling fastest in the over-85 age group in Scotland after first vaccinations … [Read more...] about UK Inoculation Program Provides Glimpse of COVID-19 Vaccine Effectiveness
AUD/USD: The Australian Dollar Poised to Rally with Rising Commodity Prices
Australia’s 10-year yield hit 1.4% (75 basis points) higher than the rates accrued in 2019.US GDP grew at an annualized adjusted rate of 4.1% (0.1%) less than estimates.The rise in commodity prices may alter Australia’s currency levels and steer inflation targets. In early trade on February 25, 2021, the AUD/USD trading pair gained a three-week high of 5.32% from 0.7569 on … [Read more...] about AUD/USD: The Australian Dollar Poised to Rally with Rising Commodity Prices
US Unemployment Claims Fall To Three-Month Lows
U.S. unemployment claims fell to three-month lows in the previous week, albeit still higher than pre-pandemic levels, data released by the Labor Department showed. Seasonally adjusted unemployment benefits fell 111,000 to 730,000 at February 20, the lowest since 716,000 at November 28, 2020. This is higher than 282,000 before the peak of COVID-19 on March 14, 2020 .Prior … [Read more...] about US Unemployment Claims Fall To Three-Month Lows
