Following the exit of the final German IFO business survey, institute economist Klaus Wohlrabe said the economy was looking for a recovery. Additional quotes “The climate has improved in construction, retail and services.” “Particularly pronounced improvement of the climate in industry.” Production plans have been significantly revised upwards. “Travel agencies and tour operators are slightly..
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Economist from the German IFO: Economy geared towards recovery.
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The weakness of the broad dollar provides slight support for the euro
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Current price EUR / USD: 1.2116 US Federal Reserve policy makers consider that the risks of trade failures “remain considerable”. Activity in the service sector in the EU contracted further in February. EUR / USD has limited upside potential despite the dollar’s intrinsic weakness. Dollar sellers took control of the exchange board on Friday, with..
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GBP / USD forecasts: firmly entrenched bullish potential
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GBP / USD Current price: 1.3851 UK gross domestic product in the fourth quarter was slightly better than expected. UK Prime Minister Boris Johnson is confident he may ease lockdown measures soon. GBP / USD is technically bullish near a multi-year high and ready to extend its lead. GBP / USD closed on Friday at..
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New York Fed’s immediate GDP drops to 6.7% for the first quarter after this week’s data
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The US economy is expected to grow 6.7% in the first quarter of 2021, the latest New York Federal Reserve report showed on Friday. “The news of this week’s data releases reduced the nowcast for 2021: Q1 by 0.1 percentage point,” the New York Fed explained in its publication. The negative effects of JOLTS and..
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It’s all about the dollar and American politics
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US policy occupies a central place with the stimulus plan and the covid spending plan. Growth in the EU is expected to remain subdued amid coronavirus lockdowns. EUR / USD’s long-term bullish trend remains intact, but a slide is not out of place. EUR / USD rallied to 1.2149 but was unable to hold on..
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UK preliminary GDP beats estimate with 1% QoQ in Q4, GBP / USD unfazed
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UK quarterly GDP grew 1% in Q4 vs. 0.5% expected. UK GDP hit 1.2% MoM in December vs. 1% expected. GBP / USD is off bullish UK GDP lows but remains around 1.38. The UK economy grew 1% vs QQ in the last quarter of 2020 compared to massive 16% growth in Q3 and expectations..
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Cozy near this year’s peak
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GBP / USD Current Price: 1.3740 The UK continues to step up its coronavirus vaccination campaign. The UK will release comparable retail sales for the BRC in January, which are expected to rise 6%. GBP / USD rebounded quickly from intraday lows, with bulls eager to buy from lows. GBP / USD fell to 1.3679..
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The European economy will return to pre-crisis levels in 2022
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The European Union (EU) economy is expected to recover in the second quarter of the year, with more coronavirus vaccinations helping lift lockdowns, EU Trade Commissioner Valdis Dombrovskis said on Monday, as reported. Reuters. Dombrivskis further noted that vaccinations in the EU would speed up considerably in the coming weeks and added that he expects..
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USD / CAD climbs to new session highs, around 1.2780 region amid stronger USD
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USD / CAD gained some positive traction on Monday against a backdrop of recovering USD demand. The continued rise in US bond yields gave the greenback some support. The continued rise in oil prices could support the loonie and cap gains for the pair. USD / CAD maintained its bid tone at the start of..
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New York Fed Nowcast GDP Grows to 6.8% for First Quarter After Data This Week
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The US economy is expected to grow 6.8% in the first quarter of 2021, the latest New York Federal Reserve report revealed on Friday. “The news of this week’s data releases increased the nowcast for 2021: Q1 by 0.3 percentage point,” the NY said in its publication. Positive surprises from the ISM survey price, ADP..
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