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| As on Mar 09, 2021 12:00 AM |
Your results on : Currency News |
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US wholesale inventories spiked by 1.3 percent in January after climbing by an upwardly revised 0.6 percent in December, a report released by the Commerce Department on Monday showed. Inventories of durable goods shot up by 1.2 percent during the month, while inventories of non-durable goods jumped by 1.5 percent. The report also showed a substantial increase in wholesale sales, which soared by 4.9 percent in January after spiking by 1.9 percent in December. Sales of durable and non-durable goods both skyrocketed by 4.9 percent. Powered by Commodity Insights |
The current conditions index of Japan's Economy Watchers' Survey, which measures the current situation of the economy, increased to 41.3 in February from 31.2 in January, survey data from the Cabinet Office showed on Monday. In December, the reading was 34.3. However, a reading below 50 suggests pessimism. The outlook index that signals future activity rose to 51.3 in February from 39.9 in the previous month. In December, the reading was 36.1. Powered by Commodity Insights |
| Japan's leading index surged to the highest level in two-and-a-half years in January, preliminary data from the Cabinet Office showed on Monday. The leading index, which measures the future economic activity, moved up to 99.1 in January from 97.7 in December. The latest reading was the highest since September 2018. The coincident index decreased to 91.7 in January from 88.2 in the previous month. This was also the highest reading since February last year. The lagging index rose to 91.9 in January from 90.8 in the prior month. Powered by Commodity Insights |
Germany's industrial production fell 2.5 percent month-on-month in January, data from Destatis revealed on Monday. Production had advanced 1.9 percent in December. On a yearly basis, industrial output dropped 3.9 percent, which was bigger than December's 1 percent decrease. Excluding energy and construction, industrial output was down by 0.5 percent on month in January. Energy production was up by 0.6 percent, while construction output declined by 12.2 percent. Powered by Commodity Insights |
| China's February exports spiked at a record pace from a year earlier, customs data showed on Sunday. Chinese exports in dollar terms jumped around 155% in February compared with a year earlier, while imports gained 17.3%, the most since October 2018. In the January-February period, exports jumped 60.6% from a year earlier. In January-February, imports increased 22.2% from a year earlier. China posted a trade surplus of $103.25 billion for the first two months. It stood at $78.17 billion in December. Powered by Commodity Insights |
Japan posted a current account surplus of 646.8 billion yen in January, the Ministry of Finance said on Monday, down 2.3 percent on year, following the 1,165.6 billion yen surplus in December. The trade balance showed a deficit of 130.1 billion yen, down 86.9 percent on year after showing a surplus of 127.48 billion yen in the previous month. Exports were up 2.7 percent on year at 5,691.6 billion yen after adding 0.3 percent to 6,561.5 billion yen in December. Imports dropped an annual 10.9 percent to 5,821.7 billion yen after sinking 13.5 percent to 5,596.4 billion yen in the previous month. Powered by Commodity Insights |
US trade deficit widened to $68.2 billion in January from a revised $67.0 billion in December, a report released by the Commerce Department on Friday showed. The wider trade deficit came as the value of imports climbed by 1.2 percent to $260.2 billion, while the value of exports rose by 1.0 percent to $191.9 billion. The increase in imports was led by a jump in imports of consumer goods, particularly pharmaceuticals, which helped offset a steep drop in imports of passenger cars. Meanwhile, notable increases in exports of industrial supplies and materials and capital goods were partly offset by a decrease in exports of automotive vehicles, parts, and engines. Powered by Commodity Insights |
US non-farm payroll employment jumped by 379,000 jobs in February after climbing by an upwardly revised 166,000 jobs in January, reflecting a significant rebound in employment in the leisure and hospitality industry, the Labor Department released a report on Friday. The stronger than expected job growth was primarily due to a rebound in employment in the leisure and hospitality industry, which added 355,000 jobs. Powered by Commodity Insights |
| China set economic growth target for 2021 at 6%. In 2020, the government avoided setting an annual growth target due to uncertainty caused by the coronavirus pandemic. The economy had expanded 2.3 percent last year, making China the only major economy to avoid a contraction amid the Covid-19 pandemic. However, this was the weakest growth in nearly five decades. Powered by Commodity Insights |
| Germany's factory orders rose in January driven by foreign demand, data from Destatis revealed on Friday. Factory orders gained 1.4% month-on-month in January, following a revised 2.2% fall in the previous month. Domestic orders dropped 2.6%, while foreign demand rose 4.2% in January. On a yearly basis, factory orders growth slowed to 2.5% from 6.1% in the last month. Powered by Commodity Insights |
US factory orders surged up by 2.6 percent in January after jumping by an upwardly revised 1.6 percent in December, the Commerce Department reported on Thursday. The report said orders for durable goods shot up by 3.4 percent in January, led by the 7.7 percent spike in orders for transportation equipment. Orders for non-defense aircraft and parts soared by 389.9 percent. Orders for non-durable goods also showed a notable increase, jumping by 1.9 percent in January following a 2.0 percent surge in December. Powered by Commodity Insights |
US initial jobless claims inched up to 745,000 in the week ended February 27th, an increase of 9,000 from the previous week's revised level of 736,000, the Labor Department reported on Thursday. The uptick in jobless claims came after the drop seen in the previous week pulled claims down to their lowest level since the week ended November 28th. Meanwhile, the Labor Department said the less volatile four-week moving average fell to 790,750, a decrease of 16,750 from the previous week's revised average of 807,500. Powered by Commodity Insights |
The American currency surged the most in a month after Powell said the sell-off in Treasuries last week was notable and caught my attention but was not disorderly or likely to push long-term rates so high the Fed might have to intervene more forcefully. Powell's remarks reignited selling in Treasuries, with the benchmark 10-year Treasury yield jumping back above 1.5% and rising as high as 1.5830% in Asia. Last week, it had soared to a three-month top of 1.614%. Meanwhile, Federal Reserve Chairman Jerome Powell acknowledged Thursday the reopening of the U.S. economy could lead to higher inflation but reiterated the central bank will remain patient with regard to monetary policy. However, the Fed chief said he expects the increase in inflation to be transitory, noting an acceleration in the annual rate of inflation would largely reflect comparisons to the low prices seen a year ago. Powell stressed there is a lot of ground to cover before price growth reaches a sustainable level above the Fed's 2 percent target. The Fed has recently signaled that interest rates will remain at near-zero levels until inflation is on track to moderately exceed 2 percent for some time. Powered by Commodity Insights |
Eurozone retail sales volume decreased 5.9 percent on month in January, in contrast to a 1.8 percent rise in December, data from Eurostat showed on Thursday. Sales of food, drinks and tobacco gained 1.1 percent, while non-food product sales were down 12 percent. Automotive fuel in specialized stores fell 1.1 percent. Year-on-year, retail sales plunged 6.4 percent, reversing December's 0.9 percent increase. Powered by Commodity Insights |
UK construction Purchasing Managers' Index rose to 53.3 from 49.2 in January, survey results from IHS Markit and Chartered Institute of Procurement & Supply showed on Thursday. A score above 50.0 indicates expansion. The expected level was 51.0. Residential work remained the strongest area of growth in February, although the speed of recovery slowed slightly. The slowdown in house building was more than offset by the sharpest rise in commercial work since last September and a slower fall in civil engineering activity. Powered by Commodity Insights |
| UK car sales tumbled in February as the lockdown depressed demand, data from the Society of Motor Manufacturers and Traders, or SMMT, showed on Thursday. UK Car registrations fell 35.5% on a yearly basis in February. The industry recorded its lowest February uptake since 1959, with 51,312 new cars registered. During January to February period, registrations were down 38.1%from the same period last year. Powered by Commodity Insights |
| Germany's construction activity contracted sharply in February on bad weather, survey results from IHS Markit showed on Thursday. The construction Purchasing Managers' Index fell to 41.0 from 46.6 in January. A score below 50 indicates contraction and the latest reading marked the lowest score since last May. The impact was seen across all broad categories of construction. Housing activity dropped notably, ending a seven-month sequence of growth. Powered by Commodity Insights |
Japan's consumer confidence index increased to 33.8 in February from 29.6 in January, on a seasonally adjusted basis, data from the Cabinet Office showed on Thursday. The latest index was the highest since February last year, when it was 38.3. Among the four sub-indexes of the consumer confidence index, the index for overall livelihood rose to 36.3 in February and the index reflecting households' willingness to buy durable consumer goods surged to 36.1. The indicators measuring the income growth increased to 35.4 and employment grew to 27.5. Powered by Commodity Insights |
Australia posted a seasonally adjusted merchandise trade surplus of A$10.412 billion in January, the Australian Bureau of Statistics said on Thursday, following the upwardly revised A$7.133 billion surplus in December. Exports were up 6.0 percent on month or A$2.316 billion to A$39.849 billion after gaining 3.0 percent in the previous month. Imports were down 2.0 percent on month or A$694 million to A$29.707 billion after slipping 2.0 percent in December. Powered by Commodity Insights |
Australia total value of retail sales was up a seasonally adjusted 0.5 percent on month in January, the Australian Bureau of Statistics said on Thursday, coming in at A$30.512 billion, following the 4.1 percent decline in December. Individually, sales were higher for food (1.6 percent), household goods (0.1 percent) and other (1.4 percent). Sales were down for clothing (-3.6 percent), department stores (-0.4 percent) and restaurants (-0.8 percent). On a yearly basis, the value of retail sales was up 10.6 percent. Powered by Commodity Insights |
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