Mainland gross domestic product, which adjusts for Norway’s offshore industry rose by 1.9% in the fourth quarter, according to Statistics Norway press release. Q4 GDP was more than expected 1.3% expansion rate. Norway’s FY20 GDP contracted by 2.5%, much less that predicted 3.5%. Norway’s FY20 GDP was also much stronger than the Eurozone economy which shrank by almost … [Read more...] about Norway GDP Emerges Stronger than Expected, Prompts Possible Early Rate Hikes
Forex News
USD/MXN Pressured By High Crude Oil And US Stimulus
The USD/MXN pair downward trend has continued in the past few days as investors focus on the recent prices of crude oil and higher inflation in Mexico. On Wednesday, the pair was trading at 20.07, which is slightly higher than the year-to-date low of 19.5520. Higher crude oil prices Mexico is a relatively major oil producer, exporting more than 1.2 million barrels every … [Read more...] about USD/MXN Pressured By High Crude Oil And US Stimulus
U.S. Jobless Claims Ease but Remain Above Expectations
U.S jobless claims for the week ending February 6 counted 793,000, a decrease of 19,000 from the previous week’s level, according to the Department of Labor press release. The jobless claims were higher than expected 760,000. Pandemic Unemployment Assistance, a program for self-employed and gig workers, rose by 1.5 million to 8.7 million in the week ended January … [Read more...] about U.S. Jobless Claims Ease but Remain Above Expectations
U.S Job Openings Gained Marginally in December Amid Declining Hiring
U.S job openings rose to 6.65 million on the last day of December from 6.572 million in the previous month, according to the Bureau of Labor Statistics press release. Hiring dropped to 5.54 million from 5.94 million in November. The job openings rate rose to 4.5% from 4.4% in NovemberThe hiring rate declined to 3.9% from 4.2% in NovemberLayoffs fell to 1.81 million in … [Read more...] about U.S Job Openings Gained Marginally in December Amid Declining Hiring
US Dollar Index (DXY) Uptrend Still Intact Ahead of Inflation Data
The US dollar index (DXY) declined sharply on Friday after the US published the January nonfarm payroll (NFP) data. On Monday morning, the index was trading at $91.0, the lowest level since Wednesday last week. US weak NFP The US dollar index was in a strong upward trend last week before the NFP data. At the time, analysts were expecting that the US created more than … [Read more...] about US Dollar Index (DXY) Uptrend Still Intact Ahead of Inflation Data
