Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …
Read More »EUR/USD Opens Risk To 1.1000, FOMC Minutes Eyed
On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …
Read More »U.K. Flash PMI Reflects Sustained Robust Output And Jobs Growth
Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …
Read More »Treasury Yields Higher As Fed Expected To Act On Inflation
US Treasury yields edged higher in uneven trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after Biden nominated its chair Jerome Powell for a second term. The yield on 10-year Treasury notes was up 3.1 basis points …
Read More »Haskel: BofE Should Be Watchful On Labour Costs
Policymaker Jonathan Haskel indicated, Tuesday, that the Bank of England needs to be watchful about rising labour costs as a tight job market means wages might rise faster than productivity and put upward pressure on inflation.BoE Governor Andrew Bailey says interest rates are likely to rise and investors see a …
Read More »US Factory Activity Growth Kept Pace in November
Manufacturing activity in the central Atlantic region of the U.S. surged in November at broadly the same pace as in October, according to a survey compiled by the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity’s composite index in November is 11, down from 12 …
Read More »Biden to Address State of US Economy
Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …
Read More »PMI Survey: US Economic Growth Slowed Slightly in November,
US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …
Read More »Biden to Release Oil Reserves to Combat High Gas Prices
The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …
Read More »Gold Falls More Than 2% After Powell
Gold prices fell more than 2% today, Monday, as the US dollar jumped after the re-nomination of Federal Reserve Chairman Jerome Powell for a second term, This fueled expectations that the US central bank would continue the Fed policy. Gold in spot transactions was down 2.08% at $ 1806.20 an …
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