U.K retail sales in January 2021 fell by 8.2% from December on tighter nationwide coronavirus restrictions, according to the Office of National Statistics press release. The retail sales volumes were 5.5% below the pre-pandemic levels in February 2020. All sectors recorded a slump in sales volumes in January 2021 except for non-store retail and food stores which gained … [Read more...] about U.K Retail Sales Slips 8.2% on COVID-19 Impacts
Forex News
U.S Jobless Claims Unexpectedly Rise above Estimates
U.S jobless claims in the week ending February 13 totaled 861,000, an increase of 13,000 from the previous week level, according to the Department of Labor press release. The figures were higher than expected 773,000 while the continuing claims fell by 64,000. First-time filings for unemployment insurance surged last week revealing signs of continuing strains in the labor … [Read more...] about U.S Jobless Claims Unexpectedly Rise above Estimates
USD/JPY: Dollar Gains With the Rise in 10-Year Treasury Yield
The US dollar has risen against the Japanese yen, with investors optimistic about Biden's stimulus.The US 10-year treasury rate has grown by 1.30%, while Japan's government bond interest rate is at 0.08%Japan may see positive inflation growth of 0.3% in 2021. The USD/JPY rose 3.18% to 105.867 on February 17, 2021, and YTD due to the increase in the US-10-year treasury yield. … [Read more...] about USD/JPY: Dollar Gains With the Rise in 10-Year Treasury Yield
U.S Retail Sales Rose 5.3% in January on Stimulus Impacts
U.S retail sales jumped 5.3% in January as consumers flocked to spend their stimulus checks, according to the Census Bureau press release. The retail sales were higher than expected rise of 1.2%. Excluding autos, sales rose 5.9%, beating an estimate of 1%The surge in consumer spending come when expectations for growth in the early part of 2021 were muted as the … [Read more...] about U.S Retail Sales Rose 5.3% in January on Stimulus Impacts
EUR/USD: Trading Pair Weighed Down by Debt Burden
US net-interest costs are expected to grow from 1.4% of GDP in 2021 to 2.4% in 2031.European banks have not recovered from a €2 trillion debt in more than a decade.Increased spending will help the US economy to recover despite the rise in debt. The EUR/USD trading pair has risen by 2.76% in the three months leading to February 16, 2021, buoyed by the falling unemployment … [Read more...] about EUR/USD: Trading Pair Weighed Down by Debt Burden
