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Tag: Forex News Round Up

U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008

The U.S. trade deficit widened to the biggest monthly and annual levels since the last recession, underscoring the inherent friction in President Donald Trump’s goal of narrowing the gap while enjoying faster economic growth. The deficit increased 5.3 percent in December to a larger-than- expected $53.1 billion, the widest since October 2008, as imports outpaced […]

Algo Trading Blamed for Monday’s Market Crash

The first thing to know about the stock market’s eye-watering slide Monday is that it wasn’t caused by anything fundamental. There was no particular piece of news that drove the major averages to capsize, in a move that sent the Dow industrials off more than 1,500 points — a new intraday record — briefly in […]

Jerome Powell Starts Fed Chair Position Facing High Volatility

On day one, markets are already putting Fed Chair Jerome Powell to the test. Market volatility, largely absent until last week, picked up in the final days of Janet Yellen’s tenure, with interest rates suddenly breaking out of a long-running range. Long dormant, inflation expectations suddenly started to rise and triggered a sell-off in the […]

Morgan Stanley Says Inflation Anxiety Putting Pressure on Stocks

Don’t expect stocks to rebound if inflation anxiety continues, according to Morgan Stanley. With price fears egging on Treasury rates, equities could be in for a disappointing few months as investors move away from a “buy-the-dip” mentality. “When inflation is very low, rising inflation has a positive impact on equity valuations,” wrote Mike Wilson, chief […]

US Service PMI Rises to 12 Year High

U.S. services sector activity raced to a near 12-1/2-year high in January, buoyed by robust growth in new orders, the latest sign of strong momentum in the economy at the start of the year. Economic growth is showing strength even before the stimulus from a $1.5 trillion tax cut package, which came into effect last […]

UK Minister Says All Brexit Forecasts Have Been Wrong

Brexit minister David Davis rekindled a debate about the credibility of the government’s own forecasts by saying on Thursday that every economic prediction on the British economy since the EU referendum has been wrong. Davis made the comments in parliament after being asked about leaked analysis, drawn up by government officials, which suggests Britain would […]

US Jobless Claims Fall Ahead of NFP Jobs Report

The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a tightening labor market and strengthening economy at the start of the year. Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 230,000 for the week ended Jan. 27, the Labor Department said on Thursday. Data for the […]

US Productivity Falls in Q4 Missing 1 Percent Gain Estimate

U.S. worker productivity unexpectedly fell in the fourth quarter, the first decline since early 2016 and an indication that it be difficult to boost annual economic growth to 3 percent on a sustainable basis. The Labor Department said on Thursday nonfarm productivity, which measures hourly output per worker, fell at a 0.1 percent annualized rate […]

UK Manufacturing PMI Fell in January

Britain’s manufacturers showed signs of a slowdown at the start of the year amid rising costs for raw materials, sending factory output to a seven-month low. The Markit/Cips UK manufacturing PMI index showed activity fell to 55.3 last month from 56.2 in December, missing City forecasts of a further acceleration in growth. However, the PMI […]

Construction Spending Rises to All Time High in US

U.S. construction spending increased more than expected in December as investment in private construction projects rose to a record high and federal government outlays rebounded strongly. The Commerce Department said on Thursday construction spending rose 0.7 percent to an all-time high of $1.25 trillion. November’s construction outlays were revised down to show a 0.6 percent […]