Forex News
Dollar Rebounds From Recent Losses, Posts Gains Against Peers
Fri, 09 Apr 2021 21:13:06 GMT
The U.S. dollar traded firm against most of its major counterparts on Friday, rebounding well after recent losses.
U.S. Wholesale Inventories Rise Slightly More Than Expected In February
Fri, 09 Apr 2021 14:50:38 GMT
Wholesale inventories in the U.S. increased by slightly more than anticipated in the month of February, the Commerce Department revealed in a report released on Friday. The report said wholesale inventories climbed by 0.6 percent in February after spiking by an upwardly revised 1.4 percent in January.
U.S. Producer Prices Jump Much More Than Expected In March
Fri, 09 Apr 2021 13:47:04 GMT
Producer prices in the U.S. jumped by much more than expected in the month of March, according to a report released by the Labor Department on Friday. The Labor Department said its producer price index for final demand surged up by 1.0 percent in March after climbing by 0.5 percent in February. Economists had expected another 0.5 percent increase.
German Industrial Output Falls; Exports Continue To Rise
Fri, 09 Apr 2021 11:44:03 GMT
Germany's industrial production decreased unexpectedly in February mainly due to the weak capital goods output, figures from Destatis revealed on Friday. Separate data showed that exports continued to rise in February but the pace of growth slowed amid a rebound in imports resulting in a fall in trade surplus. Industrial output dropped 1.6 percent month-on-month in February.
China's Inflation Turns Positive; PPI Rises Most Since 2018
Fri, 09 Apr 2021 07:46:48 GMT
China's consumer price inflation turned positive in March largely due to a rise in fuel prices and factory gate inflation rose the most in more than two years driven by higher global commodity prices. Consumer prices rose to 0.4 percent year-on-year in March, reversing a 0.2 percent drop in February, data from the National Bureau of Statistics showed on Friday.
European Economics Preview: Germany Industrial Output, Foreign Trade Data Due
Fri, 09 Apr 2021 05:37:31 GMT
Industrial production and foreign trade from Germany and house prices from the UK are due on Friday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is scheduled to publish Germany's industrial output and foreign trade figures. Economists forecast industrial output to grow 1.5 percent month-on-month, reversing a 2.5 percent fall in January.
Dollar Exhibits Weakness Against Major Currencies
Thu, 08 Apr 2021 20:50:39 GMT
The U.S. dollar exhibited weakness against most of its major counterparts on Thursday amid improved risk sentiment following the Federal Reserve reiterating its commitment to maintain its easy monetary policy for the foreseeable future.
U.S. Jobless Claims Unexpectedly Rise For Second Straight Week
Thu, 08 Apr 2021 13:26:55 GMT
First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended April 3rd, according to a report released by the Labor Department on Thursday. The report said initial jobless claims edged up to 744,000, an increase of 16,000 from the previous week's revised level of 728,000.
Policymakers Saw Recent Bond Yield Rise Premature, ECB Mintues Show
Thu, 08 Apr 2021 12:11:47 GMT
Policymakers saw the recent rise in bond yields was largely premature for the euro area and that warranted the maintenance of an ample degree of stimulus, the minutes of the European Central Bank's March 10-11 meeting showed Thursday.
German Factory Orders Improve On Domestic Demand
Thu, 08 Apr 2021 12:01:56 GMT
Germany's factory orders growth accelerated in February driven solely by higher demand from the domestic market, data from Destatis showed on Thursday. Factory orders grew 1.2 percent month-on-month in February, as expected, and faster than the 0.8 percent increase in January. Excluding major orders, new orders in manufacturing were 1.5 percent higher than in the previous month.
European Economics Preview: Germany's Factory Orders Data Due
Thu, 08 Apr 2021 05:00:18 GMT
Factory orders and construction Purchasing Managers' survey from Germany are due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's factory orders for February. Economists forecast orders to climb 1.2 percent on month, following a 1.4 percent rise in January.
Dollar Mixed Against Major Currencies
Wed, 07 Apr 2021 21:33:33 GMT
The U.S. dollar turned in a mixed performance against its major counterparts on Wednesday.
Fed Minutes Reiterate Policy Likely To Remain Unchanged For 'Some Time'
Wed, 07 Apr 2021 18:39:11 GMT
Despite recent signs of strength in the U.S. economy, the minutes from the Federal Reserve's latest monetary policy meeting indicated the central bank is unlikely to change its ultra-loose monetary policy anytime soon.
U.S. Trade Deficit Widens To Record $71.1 Billion In February
Wed, 07 Apr 2021 13:26:45 GMT
Largely reflecting a steep drop in the value of exports, the Commerce Department released a report on Wednesday showing the U.S. trade deficit widened more than expected in the month of February. The Commerce Department said the trade deficit widened to $71.1 billion in February from a revised $67.8 billion in January.
UK Service Sector Logs Strong Rebound In March
Wed, 07 Apr 2021 11:09:54 GMT
The UK service sector logged a strong rebound in March as activity, new orders and employment picked up from February, final data from IHS Markit showed on Wednesday. The services Purchasing Managers' Index advanced to 56.3 from 49.5 in February. The flash reading was 56.8. The score was above the 50.0 no-change level for the first time since October 2020.
Eurozone Private Sector Recovers In March
Wed, 07 Apr 2021 10:46:17 GMT
Eurozone private sector returned to growth in March underpinned by a record increase in manufacturing output, final survey data from IHS Markit showed on Wednesday. The final composite output index rose to 53.2 in March from 48.8 in February. The score was also above the flash estimate of 52.5.
India Holds Rates Steady Amid Pandemic Resurgence
Wed, 07 Apr 2021 10:08:35 GMT
India's central bank left its key interest rates unchanged and vowed to continue its accommodative stance as long as needed amid a steep rise in Covid-19 infections in the country. The Monetary Policy Committee of the Reserve Bank of India unanimously voted to maintain the policy repo rate at 4.00 percent. The reverse repo rate was retained at 3.35 percent.
European Economics Preview: Eurozone Final Composite PMI Data Due
Wed, 07 Apr 2021 04:53:49 GMT
Composite Purchasing Managers' survey results from euro area and the UK are due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, the Czech Statistical Office publishes retail sales data for February. Economists forecast sales to fall 7.8 percent on year, following a 9 percent drop in January.
South Korea Has $8.03 Billion Current Account Surplus
Tue, 06 Apr 2021 23:45:10 GMT
South Korea posted a current account surplus of $8.03 billion in February, the Bank of Korea said on Wednesday - roughly in line with expectations and up from $7.06 billion in February.
Dollar Loses Ground Against Major Currencies
Tue, 06 Apr 2021 21:19:24 GMT
The U.S. dollar hit a near 2-week low on Tuesday as rising optimism about economic growth dimmed the demand for the safe-haven currency.
IMF Lifts Global Growth Forecasts Despite High Uncertainty
Tue, 06 Apr 2021 16:33:19 GMT
The International Monetary Fund raised the global growth forecasts on Tuesday amid high uncertainty and warned of divergent impacts from the Covid-19 pandemic such as sharply rising income inequality.
Eurozone Unemployment Rate Remains Stable
Tue, 06 Apr 2021 12:56:31 GMT
The euro area unemployment rate remained unchanged in February as government support measures continue to protect jobs amid tight Covid-19 related restrictions, preliminary figures from Eurostat showed Tuesday. The unemployment rate held steady at seasonally-adjusted 8.3 percent in February. A year ago, the jobless rate was 7.3 percent.
Australia Central Bank Keeps Monetary Policy Unchanged
Tue, 06 Apr 2021 06:00:21 GMT
Australia's central bank maintained its interest rate as well as bond purchase programme on Tuesday, as widely expected, as these measures continued to help the economy by keeping financing costs very low. The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to leave its cash rate unchanged at a record low of 0.10 percent.
China's Service Sector Growth Accelerates In March
Tue, 06 Apr 2021 05:31:58 GMT
China's service sector growth accelerated in March driven by steeper increases in activity and overseas sales, survey results from IHS Markit showed on Tuesday. The Caixin Purchasing Managers' Index rose to 54.3 in March from 51.5 in February. The pace of expansion was the fastest in last three months. The score has remained above the neutral 50.0 level for eleventh consecutive month.
European Economics Preview: Eurozone Unemployment Data Due
Tue, 06 Apr 2021 05:06:48 GMT
Unemployment data from euro area is due on Tuesday, headlining a light day for the European economic news. At 3.00 am ET, Spain unemployment data for March is due from the labor ministry. The number of unemployed increased by 44,400 in February. At 4.00 am ET, the Society of Motor Manufacturers and Traders releases UK car registrations data for March.
Dollar Loses Ground Against Major Counterparts
Mon, 05 Apr 2021 20:58:52 GMT
The U.S. dollar drifted lower against other major currencies on Monday, extending recent weakness, as a slew of encouraging economic data raised optimism about strong global economic rebound and dimmed the currency's safe-haven appeal.
U.S. Factory Orders Pull Back More Than Expected In February
Mon, 05 Apr 2021 14:56:47 GMT
After reporting sharp increases in new orders for U.S. manufactured goods over the past several months, the Commerce Department released a report on Monday showing a pullback in factory orders in the month of February.
U.S. Service Sector Growth Accelerates Much More Than Expected In March
Mon, 05 Apr 2021 14:43:42 GMT
Growth in U.S. service sector activity saw a substantial acceleration in the month of March, according to a report released by the Institute for Supply Management on Monday. The ISM said its Services PMI surged up to 63.7 in March from 55.3 in February, with a reading above 50 indicating growth. Economists had expected the index to rise to 58.5.
U.S. Employment Spikes In March, Unemployment Rate Drops To One-Year Low
Fri, 02 Apr 2021 13:23:00 GMT
A closely watched report released by the Labor Department on Friday showed employment in the U.S. spiked by much more than expected in the month of March. The Labor Department said non-farm payroll employment surged up by 916,000 jobs in March after climbing by an upwardly revised 468,000 jobs in February.
U.S. Dollar Extends Pullback On Strong Manufacturing Data
Thu, 01 Apr 2021 20:25:58 GMT
Extending the pullback seen in the previous day, the value of the U.S. dollar has moved to the downside during trading on Thursday.
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