Market Pulse - Currencies
Surprise drop in Philly Fed index for December, as new orders slump
Activity at factories across the US mid-Atlantic region slowed more quickly than expected at the end of 2020, the results of a closely-watched survey showed.
Small rise in initial US jobless claims may mask negative trend
Jobless claims in the US rose only slightly over the preceding week, but masked a more worrying underlying trend, some economists said.
Europe midday: Shares grind higher on US stimulus, Brexit hopes
European shares were holding mostly higher on Thursday trading near 10-month highs as hopes of a US stimulus package lifted investor sentiment, alongside moves to speed up Covid-19 inoculations on the continent and potential progress on a Brexit deal.
Federal Reserve 'tweaks' QE guidance to easier for longer
The Federal Reserve 'tweaked' its guidance for asset purchases on Thursday night, from time-based to outcome-based.
US homebuilding activity flattens in December, but new highs expected
US homebuilding activity eased in December after hitting record levels during the month before, a closely-followed gauge for the sector revealed.
US retail sales surprise with sharp November drop
Retail sales volumes in the US fell by much more than expected last month as the holiday season got off to a very weak start.
UK economy shows signs of life, despite headwinds from Covid-19 and Brexit
Economic activity in the UK picked up slightly at the end of 2020, despite the evident headwinds from Covid-19 and Brexit, led by an expansion in factory sector activity, the results of two closely-followed surveys revealed.
US final demand inflation edges past forecasts in November
Wholesale inflation in the States picked up a bit more quickly than anticipated last month.
US November CPI edges past forecasts, some see much higher inflation ahead
Consumer prices in the US rose a tad more quickly than expected last month on the back of broad-based gains which some economists said heralded much higher inflation over the course of 2021.
BofA doesn't expect BoE to ease even if Brexit news is negative
Britain and the European Union will most likely agree a Brexit deal, but should they fail, then the Bank of England would restart its asset purchases and cut interest rates, by 50 basis points eventually, economists at Bank of America said.
Weekly US jobless claims jump as lockdown restrictions reimposed
The ranks of Americans filing for jobless claims for the first time grew far more quickly than expected last week, as Covid-19 lockdown restrictions were reimposed.
ECB boosts Covid-19 asset purchase programme by €500bn, to conduct more liquidity auctions
Rate-setters in Frankfurt eased monetary policy further on Thursday, boosting the size of their asset purchase programme, as expected, alongside a barrage of other measures.
Bitcoin may pose multi-year headwind for gold, JP Morgan says
Gold may be in for a bumpy ride over the medium to long-term if institutional investors continue to shift away from the yellow metal and towards Bitcoin, a JP Morgan strategist argued.
US small business confidence declines, but pricing power strengthens
Small business confidence in the US soured a bit last month, the results of a closely-followed survey revealed, although pricing power continued to strengthen, a possible indication of the price pressures that might lie ahead.
ISM services gauge dips slightly in November
Activity in America's services sector slowed slightly in November as businesses try to cope with the recent surge in Covid-19 infections, the results of a closely-followed survey revealed.
Initial US jobless claims drop sharply, but some economists cautious
US jobless claims for the previous week surprised sharply to the downside, although at least one top-ranked economist was expecting the improvement to be short-lived.