December 13, 2023 10:14 am
Industrial production in the Euro Area was reported to have contracted 0.7% in October compared to September, or at a much sharper rate than expected. That followed a revised up 1% drop in September. In October, output contracted for capital goods, by 1.4%, followed by 0.6% decreases in both intermediate and non-durable consumer goods output. […]
Read moreDecember 13, 2023 8:16 am
The GBP/CAD currency pair weakened on Wednesday, while holding not far from recent three-week low, after data showed the UK economy had contracted 0.3% in October from September, confounding market expectations of zero growth. The GDP contraction was mostly driven by the services sector, which shrank 0.2% month-over-month. Within services, the largest drop was observed […]
Read moreDecember 12, 2023 8:34 am
Having rebounded from a two-month low, the GBP/JPY currency pair edged lower on Tuesday, after data showed UK wage growth had decelerated further in the three months to October, while adding to the case of a rate pause by the Bank of England at its upcoming policy meeting. Average weekly earnings, including bonuses, rose 7.2% […]
Read moreDecember 11, 2023 8:26 am
The South African Rand was a notch weaker against the US Dollar on Monday, with the emerging market currency set to extend a 1.76% loss from last week ahead of key macro data. Market focus now sets on the US CPI inflation figures, due out on Tuesday, which may provide more clues over potential interest […]
Read moreDecember 8, 2023 8:26 am
Annual consumer price inflation in Germany was confirmed at 3.2% in November, or the lowest rate since June 2021. It has slowed from 3.8% in October. In monthly terms, German consumer prices decreased 0.4% in November, after registering zero growth in October. Last month, the main downward pressure came from a notable slowdown in food […]
Read moreDecember 6, 2023 10:21 am
Retail sales in the Euro Area rose at a monthly rate of 0.1% in October, while snapping a four-month streak of decreases or stagnant growth. In comparison, market consensus had pointed to a 0.2% growth. Consumer demand still remained weak because of persistently high inflation and higher interest rates. In October, sales of food, drinks […]
Read moreDecember 6, 2023 8:29 am
Having taken a hit after the Reserve Bank of Australia’s latest policy decision on Tuesday, the Australian Dollar recouped part of the losses on Wednesday, with the AUD/JPY pair advancing almost 0.5%. Meanwhile, market players wagered interest rates would be heading lower in 2024. The chances of another RBA rate hike are now seen at […]
Read moreDecember 5, 2023 9:40 am
Private sector activity in the Euro Area registered another notable contraction in November, but still, the pace was slower than initially estimated. Euro Area’s Composite Purchasing Managers’ Index (PMI) was reported at a final 47.6 in November, up from a preliminary estimate of 47.1 and improving from October’s near three-year low of 46.5. New business […]
Read moreDecember 5, 2023 8:15 am
The AUD/CAD currency pair extended the losses from the previous trading day on Tuesday, while touching a fresh two-week low, after the Reserve Bank of Australia left its cash rate without change at 4.35% at its December meeting. The decision came in line with investor expectations and followed a 25 basis point rate hike in […]
Read moreDecember 4, 2023 8:42 am
The South African Rand weakened against the US Dollar at the start of a macro data-packed week. The South African currency gained more than 1.2% last Friday, as cautious remarks delivered by Federal Reserve Chair Jerome Powell dented the US Dollar. Powell noted it was clear that the Fed’s monetary policy was slowing the economy […]
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