Crude oil prices rose by more than 2% in midday trading on Wednesday, December 17, after four consecutive sessions of declines. Prices rebounded from their lowest levels since February 2021, reached on Tuesday, supported by escalating tensions between the United States and Venezuela. Official inventory figures are expected later today. US crude (WTI) is up approximately 2.48%, trading at $60.64...
The UK's Consumer Price Index (CPI), which measures inflation, rose to 3.2% year-on-year in November, according to data released by the Office for National Statistics (ONS) on Wednesday morning, December 17. This compares to a 3.6% increase in October and was below expectations of 3.5%, marking the lowest growth rate since March. On a monthly basis, the CPI rose by...
The US Bureau of Labor Statistics report released moments ago shows the US economy added 64,000 jobs in the delayed November reading, which was postponed due to the government shutdown. This compares to a loss of 105,000 jobs in October, exceeding market expectations of 50,000 new jobs. Meanwhile, the unemployment rate rose slightly in November, by 0.02 percentage points, to...
Data released moments ago by the US Census Bureau showed that US retail sales in November were flat, falling short of market expectations. Sales reached $732.6 billion, slightly below October's reading (predictions were 0.1%), but up 3.4% year-over-year compared to November 2024. Core sales, excluding autos, rose 0.4% in November, compared to a 0.3% increase in October. Non-store sales jumped...
Data released at the start of the European session on Tuesday, November 16, showed a decline in most services and manufacturing PMIs in the Eurozone, while the UK's figures improved in the preliminary reading for December. The Eurozone services PMI fell to a three-month low of 52.6 in December, compared to 53.6 in November (forecast 53.3), while the manufacturing PMI...
The Consumer Price Index (CPI) in Canada rose by approximately 2.2% year-on-year in November, according to figures released moments ago. This matched the increase recorded in October, while the core CPI, which excludes gasoline prices, rose to 2.6% year-on-year for the third consecutive month. On a monthly basis, the index rose by 0.1% in November, following a 0.2% increase in...
Gold is trading higher for the fifth consecutive session in the middle of the European session on Monday, December 15th, trading just $40 away from its previous record high set in October. This comes as the US dollar and US Treasury yields weaken amid anticipation of economic data to be released this week. Gold is trading up approximately 0.98% at...
Preliminary estimates from the UK's Office for National Statistics show that the UK's gross domestic product (GDP) unexpectedly fell by 0.1% in October, matching the September figure, while forecasts had predicted growth of 0.1%. This means the UK economy contracted by 0.1% in the three months to October, compared to growth of 0.1% in the three months to September. The...
The Swiss National Bank (SNB) decided to keep its interest rate at zero percent (0.00%), unchanged from expectations, at its meeting earlier today, Thursday, December 11. This marks the second consecutive meeting where the rate remains unchanged, following six consecutive rate cuts. The bank also announced its readiness to intervene in the foreign exchange market if necessary. In its policy...
Australia's unemployment rate remained unchanged at 4.3% in November, a slight increase of 0.2%, according to figures released by the Australian Bureau of Statistics (ABS) at the start of Asian trading on Thursday, December 11. This was better than market expectations, which had anticipated a rise to 4.4%. The labor force participation rate also declined slightly to 66.7% from 66.9%...