Forex Top Story


imf-040919_20jan20.jpg The International Monetary Fund on Monday cut the global growth forecasts for this year and next, mainly due to the weaker-than-expected expansion in India. Global growth for this year is projected at 3.3 percent, which is 0.1 percentage point less than the forecast made in October, the international lender said in the latest update to its World Economic Outlook.

peoplesbankofchina-020317_20jan20.jpg China kept its benchmark lending rates unchanged for the second straight month, as widely expected, on Monday. The one-year loan prime rate was retained at 4.15 percent and the five-year loan prime rate at 4.80 percent. The rate was last reduced in November, which was the first cut since the new lending rate was introduced.

The U.S. dollar exhibited strength against most major currencies on Friday, riding on fairly encouraging economic data from China and the U.S.

consumer-010319_17jan20.jpg A report released by the University of Michigan on Friday showed a slight deterioration in U.S. consumer sentiment in the month of January. Preliminary data showed the consumer sentiment index edged down to 99.1 in January from the final December reading of 99.3. Economists had expected the index to come in unchanged.

industrialproduction-011720.jpg With utilities output plummeting amid a slump in demand for heating, the Federal Reserve released a report on Friday showing a modest pullback in U.S. industrial production in the month of December. The Fed said industrial production fell by 0.3 percent in December after climbing by a downwardly revised 0.8 percent in November.

homeconstruction-011720.jpg After reporting significant increases in new residential construction in the two previous months, the Commerce Department released a report on Friday showing U.S. housing starts saw an even more substantial spike in the month of December. The Commerce Department said housing starts skyrocketed by 16.9 percent to an annual rate of 1.608 million in December.

ukretail-sep19_17jan20.jpg UK retail sales declined unexpectedly even in festive season in December signaling that weak consumer spending weighed on economic growth in the last quarter of 2019. Retail sales volume, including auto fuel, dropped 0.6 percent month-on-month, following a 0.8 percent decrease in November, data from the Office for National Statistics showed Friday.

preview-jan17.jpg Retail sales from the UK and final inflation from euro area are due on Thursday, headlining a light day for the European economic news. At 4.00 am ET, the European Central Bank is scheduled to publish euro area current account data for November. The current account surplus totaled EUR 32.4 billion in October.

chinagdp1-jan17.jpg China's economy expanded at the slowest pace since 1990 as cooling domestic demand and property investment amid trade wars with the United States weighed heavily on growth last year. In the whole year of 2019, gross domestic product grew 6.1 percent, which was well within the target of 6-6.5 percent, data from the National Bureau of Statistics showed Friday.

After some early weakness, the U.S. dollar gained in strength on Thursday thanks to some upbeat economic data, including the reports on retail sales and Philadelphia area manufacturing activity.

business-inventories-011620.jpg A report released by the Commerce Department on Thursday showed a slightly bigger than expected decrease in U.S. business inventories in the month of November. The Commerce Department said business inventories dipped by 0.2 percent in November after inching up by a revised 0.1 percent in October.

nahb-011619.jpg After reporting an unexpected spike in U.S. homebuilder confidence in the previous month, the National Association of Home Builders released a report on Thursday showing a slight pullback in homebuilder confidence in the month of January. The report said the NAHB/Wells Fargo Housing Market Index edged down to 75 in January after jumping to 76 in December.

import-export-011620.jpg Import prices in the U.S. increased in line with economist estimates in the month of December, the Labor Department revealed in a report released on Thursday. The report said import prices climbed by 0.3 percent in December after inching up by a revised 0.1 percent in November.

philadelphiafed-011620.jpg Growth in Philadelphia-area manufacturing activity showed a substantial acceleration in the month of January, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity spiked to 17.0 in January from an upwardly revised 2.4 in December.

retail-sales-011620.jpg With a sharp pullback in auto sales more than offset by strength in other areas, the Commerce Department released a report on Thursday showing U.S. retail sales rose in line with economist estimates in the month of December. The Commerce Department said retail sales climbed by 0.3 percent in December, matching the upwardly revised increase in November.

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