The latest round of coronavirus-induced layoffs and furloughs soared by another 6.6 million in the first week of April, bringing total job losses in less than a month to a stupefying 16.8 million. Initial jobless claims, a rough proxy for job losses, have now posted increases of 6.6 million, 6.9 million and 3.3 million in the last three weekly readings since the middle of March. Initial jobless claims leaped a seasonally adjusted 6.6 million in the week of March 29 to April 4, topping the 6 million MarketWatch forecast. What™s more, new claims in the last week of March were revised up...
U.K. inflation picked up for the first time in six months, boosted by the cost of energy, motor fuel and air fares. Consumer prices rose a stronger-than-forecast 1.8% in January from a year earlier, the fastest since July, the Office for National Statistics said Wednesday. Core inflation picked up to 1.6%. But the acceleration is likely to prove temporary, with inflation expected to fall back in the second quarter and remain below the Bank of Englands 2% target for the next two years. The benign inflation outlook would make it easier for the BOE to cut interest rates should the economy...
Investors have been plunged back into a gloomy mood over the German economy on concern the coronavirus outbreak in China will disrupt global trade. ZEW's index of expectations for the next six months decreased to 8.7 in February, below even the most pessimistic estimate in a Bloomberg survey. The poll suggests confidence is fading that Europe's largest economy can stem a manufacturing recession that has lasted more than a year. "Economic development is rather fragile at the moment, ZEW President Achim Wambach said in a statement. The outlook for export-intensive sectors has deteriorated...
Retail Sales in the US increased by 0.3% on a monthly basis in January following December's 0.2% growth, the advanced data published by the US Census Bureau showed on Friday. This reading came in line with market expectation. Retail Sales Excluding Autos also rose 0.3% in the same period after rising 0.6% in December. "Total sales for the November 2019 through January 2020 period were up 4.4% from the same period a year ago," the publication further read. The US Dollar Index inched higher after the data and was last up 0.03% on the day at 99.13. Source : Fxstreet
Inflation in the United States, as measured by the core Consumer Price Index (CPI), rose 2.3% on a yearly basis in January to match December's reading, the monthly data published by the United States (US) Bureau of Labor Statistics (BLS) showed on Thursday. This reading came in higher than the market expectation of 2.2%. On a monthly basis, the core CPI registered +0.2% as expected and the CPI registered +0.1%. The annual CPI rose to 2.5% from 2.3%. The US Dollar Index largely ignored these figures and was last down 0.03% on the day at 98.99. Source : Fxstreet
The preliminary reading of the fourth quarter 2019 UK GDP came in at 0.0% QoQ vs. 0.0% expected and +0.4% last while on an annualized basis the figure stood at +1.1% vs. +0.8 expected and +1.1% seen previously. The UK GDP monthly release showed that the UK economy expanded in December, arriving at +0.3% versus +0.2% expected and -0.3% previous. Meanwhile, Index of services (November) arrived at +0.1% 3M/3M vs. 0.0% expected and 0.0% prior. The Cable keeps its range around 1.2930 region, largely unfazed by the UK growth numbers. The Gross Domestic Product released by the National...
A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction.
The manufacturing purchasing...
The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs even before negotiations with China unraveled and he...
Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services.
A flash reading of the country's composite Purchasing...
A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will "have to go out and buy much larger tractors,"...