The price of gold rose today after the less-than-expected home building permits data. Homebuilding permits decreased to 1,760 million, compared to an expected 1,770 million. Housing Starts fell 9.5% in April. Gold is receiving from the increasing US dollar index its weakness, in light of weak US data, and expectations …
Read More »Eurozone GDP Contracts In Q1
The eurozone economy shrank by 0.6% on a quarterly basis in the three months to March 2021, in line with expectations of -0.6%, a second estimate confirmed on Tuesday. On an annual basis, the bloc’s GDP decreased by 1.8% in Q1 versus -1.8% initiallyy in line with market expectations of …
Read More »US: Retail Sales Unchanged in April
Retail sales in the United States were unexpectedly flat in April as support ebbed from stimulus payments, but the coming months are likely to see an acceleration as savings reach unprecedented levels and economic activity resumes. Moreover, the Retail Sales Control Group declined by 1.5% after rising 10.7% in March. …
Read More »The Turkish Lira Falls Slightly
The Turkish lira weakened slightly Thursday, May 6, ahead of the central bank meeting to set the interest rate, as it is expected to keep the main interest rate unchanged in the face of rising inflation. The lira was at 8.3350 against the dollar, down slightly from the settlement rate …
Read More »German Industrial Orders Rise on Strong Domestic Demand
German industrial orders rose for the third consecutive month in March, supported by domestic demand, data showed, in a new indication that manufacturers in Europe’s largest economy are likely to cushion the impact of lower household spending linked to the lockdown measures. The data published by the Federal Statistics Office, …
Read More »UK on the Way to Lift the Social Distancing Rule Next Month
The UK is on the way to dispense with the covid-19 social distancing rule before the end of next month, which requires people to stay at least one meter away, according to Prime Minister Boris Johnson. The British government is proceeding according to a roadmap it has set for itself …
Read More »The Eurozone Economy Contracted by 0.6% in Q1
The eurozone economy shrank in Q1 2021, as countries implemented new closures and restrictions amid the third wave of coronavirus infections. GDP in the region fell 0.6% quarter-on-quarter, against expectations of a 0.8% contraction, according to preliminary data released by Eurostat. Germany, Italy and Spain all saw a decline in …
Read More »US: Weekly Initial Jobless Claims Decline to 553K
There were 553,000 initial claims for unemployment benefits in the US during the week ending April 24, the data published by the US Department of Labor (DOL) showed on Thursday. This reading came in slightly worse than the market expectation of 549,000 but showed an improvement from the previous record …
Read More »Federal Reserve Holds Interest Rates Unchanged
The United States Federal Reserve on Wednesday decoded to maintain interest rates at a historical low range near 0%. In addition, the Federal Open Market Committee (FOMC) decided to maintain the current pace of asset purchases at $120 billion per month, in line with the quantitative easing policies. As expected, …
Read More »Deutsche Bank Reports Its Best Quarterly Earnings Since 2014
Deutsche Bank announced a profit of 908 million euros, equivalent to about $ 1.1 billion in Q1, supported by continued strong performance in the investment banking sector. The bank largely exceeded analysts’ forecasts for a net income of 642.95 million euros, according to Refinitiv, and showed a marked improvement from …
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