Nonfarm Payrolls in the US rose by 263,000 in November, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. October’s reading got revised higher to 284,000 from 261,000. Further detail of the publication revealed …
Read More »The dollar is near a 16-week low, and the yuan is heading for its biggest weekly gain since 2005
The dollar settled near its lowest level in 16 weeks against a basket of major currencies on Friday, ahead of key data related to the labor market in the United States, while the yuan is heading to record its biggest weekly gain since China revalued its currency in 2005. The …
Read More »European stocks are heading for gains for the seventh week
European stocks seem to be heading for gains for the seventh week in a row amid easing fears of tightening monetary policy globally. However, stocks fell on Friday ahead of the release of US jobs data. The pan-European Stoxx 600 index fell 0.5 percent after two days of strong gains. …
Read More »Oil prices fluctuated with the expectation of easing Corona restrictions in China
Oil prices witnessed volatile performance on Friday, as hopes for further easing of Coronavirus restrictions in China and the subsequent recovery in demand in the world’s second-largest economy boosted market sentiment, but the rise of the dollar limited the gains. Brent crude futures fell 1 cent, or 0.01%, to $86.87 …
Read More »US NFP Preview
The US Bureau of Labor Statistics (BLS) will release the November jobs report on Friday, December 2 at 13:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 4 major banks regarding the upcoming employment data. Expectations are for …
Read More »Gold is heading towards the best weekly performance in three weeks
Gold prices fell on Friday before the announcement of important US jobs data. However, they are still on track to record the best weekly performance in three weeks, with the dollar weakening due to expectations of a slowdown in the rate hike at the Federal Reserve and indications of declining …
Read More »Oil is falling but still in the way to record weekly gains
Oil prices fell in early Asian trade on Friday after the dollar recovered some of its losses, while the easing of anti-COVID-19 restrictions in two Chinese cities limited losses. By 0128 GMT, Brent crude futures fell 11 cents, or 0.1 percent, to $86.77 a barrel, while West Texas Intermediate crude …
Read More »US annual Core PCE inflation declines to 5% in October
Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, declined to 6% on a yearly basis in October from 6.3% in September, the US Bureau of Economic Analysis announced on Thursday. This reading came in below the market expectation of 6.2%. The annual Core PCE …
Read More »UK house prices are falling at the fastest rate since mid-2020
UK house prices fell more than expected in November, as rising borrowing costs affected market sentiment. British home prices fell by 1.4% in November, which is the largest monthly decline since June 2020, according to data from the Nationwide mortgage lender. On an annual basis, house price growth in the …
Read More »German Retail Sales plunge by 5.0% YoY in October
Germany’s Retail Sales decreased by 2.8% MoM in October versus -0.6% expected and 0.9% previous, the official figures released by Destatis showed on Thursday. On an annualized basis, the bloc’s Retail Sales came in at -5.0% in October versus the -2.8% expected and a 0.9% drop recorded in September. The …
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