U.S. total nonfarm payroll employment declined by 140,000 in December, according to the Bureau of Labor Statistics press release. The decline in payroll employment reflects the recent increase in coronavirus cases despite the unemployment rate remaining unchanged at 6.7%. Overall average hourly earnings were $29.81, slightly above the ones of November $29.58 and … [Read more...] about Total Nonfarm Payroll Employment Fell by 140,000, Unemployment Rate Unchanged
Forex News
Norges Bank Likely to Remain Dovish in 2021
BREXIT deal negotiations have disrupted Norway’s fishing business that is likely to affect economic growth into 2021.Norges Bank may likely choose to maintain zero interest rates in 2021 as the government focuses on recovery.The low inflation rate of 0.7% at the end of 2020 resulted from reduced housing and utility prices. Ahead of its policy rate pronouncement on January … [Read more...] about Norges Bank Likely to Remain Dovish in 2021
Credit Suisse Forecasts Fourth Quarter Loss on Higher Provisions
Credit Suisse expects a net loss in the fourth quarter after increasing its provisions for a long-running dispute in the U.S by $850 million, according to CNBC. The bank has already set aside $300 million for the decade-long dispute on U.S residential mortgage-backed security (RMBS). Credit Suisse believes it has strong grounds for appeal despite setting aside $300 million … [Read more...] about Credit Suisse Forecasts Fourth Quarter Loss on Higher Provisions
U.S. Initial Claims Eases in Early January 2021
U.S. initial claims for the week ending January 2 was 787,000, a fall of 3,000 from the previous week’s revised level, according to the Department of Labor press release. The adjusted insured unemployment was 5.072 million during the week ending December 26, down 126,000 from the previous week's revised level. The previous week’s initial claims was revised up by 3,000 from … [Read more...] about U.S. Initial Claims Eases in Early January 2021
Eurozone Construction Drought Continues in December
Eurozone Construction Total Activity Index tumbled to 45.5 in December, from 45.6 in November, according to IHS Markit press release. The index signifies a further contraction in Eurozone construction activity fueled by the ravaging impacts of the COVID-19 pandemic. The sharpest decline in activity was in commercial construction, followed by civil … [Read more...] about Eurozone Construction Drought Continues in December
