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Nonfarm Payrolls (NFP) rose by 210K in November versus the median forecast for a 550K rise, data published by the US Bureau of Labor Statistics showed on Friday. That marked a substantial decline versus the 546K jobs added to the US economy in October.

Raphael Bostic, President of the Federal Reserve Bank of Atlanta, said on Thursday that he would push for getting the QE taper over with sooner rather than later. Additional Comments:“We do need to be tapering bond purchases, have served purpose.”“Tapering will provide more optionality in 2022 on interest rate liftoff.”“If …

There were 222,000 initial claims for unemployment benefits in the US during the week ending November 27, data published by the US Department of Labor (DoL) revealed on Wednesday. This reading followed last week’s print of 194,000, revised from 199,000, lower than the market’s expectation for 240,000.

Fed Chair Jerome Powell is currently testifying before the House Financial Services Committee alongside US Treasury Secretary Janet Yellen. More Wednesday’s Quotes:“We need to move on from the word transitory.”“The risks of higher inflation have moved up.”“Demand is very, very strong from fiscal policy and a quickly rebounding economy.”“The economy …

Fed Chair Jerome Powell returns to Capitol Hill on Wednesday for a second day of testimony. Markets will be looking for clues about how the central bank is thinking about plans to raise interest rates next year.Powell testified alongside Treasury Secretary Janet Yellen before the Senate Banking Committee on Tuesday, …

Speaking on State TV in Turkey on Tuesday, Turkish President Recep Erdogan said that he will boost investment, employment, growth and production by lowering interest rates.Interest rates are the cause and inflation is the result, he continued, adding that he thinks economic growth in 2021 will be about 10%. Hopefully …

The US dollar surged on Tuesday following comments by Fed Chair Jerome Powell, who indicated it would be appropriate to consider wrapping up the bank’s QE taper sooner. Speaking before the Committee on Banking, Housing, and Urban Affairs of the US Senate alongside US Treasury Secretary Janet Yellen, Powell added …

Hungary’s central bank unexpectedly raised interest rates for the fourth time in just two weeks on Tuesday amid a surge in inflation that has put increased pressure on the forint and its bond market.The National Bank of Hungary was the first European Union central bank to start raising interest rates …

Fresh headlines are crossing the wires from the UAE official, via Reuters, citing that it is fully committed to OPEC and its allies (OPEC+) agreement. The UAE said that it has no “prior stance” ahead of the upcoming OPEC+ meeting. The UAE Energy Minister, Suhail Al Mazrouei, said last Tuesday …

According to the latest release by the US Census Bureau, US Durable Goods Orders fell by 0.5% MoM in October compared to market expectations for a small 0.2% rise in sales. That marked an acceleration of the 0.4% contraction in orders recorded in September. Excluding transportation, orders rose at a …