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Key Levels To Watch In The U.S. Dollar And Euro
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The U.S. dollar and euro recently broke out of their two year-old trading ranges. What comes next?
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The long-term U.S. Dollar Index chart shows the former trading range and recent breakout. As long as the Dollar Index holds above the key 100 support, there is very little resistance overhead all the way up to 120, which marked the highs in 2001 and 2002. Due to its history and psychological significance, the 120 level may act like a magnet for the U.S. Dollar Index over the next couple of years.
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German Economy Expands At Fastest Pace In 5 Years
The German economy expanded at the fastest pace in five years in 2016 on robust domestic demand amid weak trade, data published by Destatis showed Thursday. Gross domestic product grew 1.9 percent last year after expanding 1.7 percent in 2015. This was the fastest expansion since 2011, when the biggest euro area economy grew 3.7 percent.
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Theresa May Signals 'Hard Brexit' Saying UK Will Leave Single Market
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The U.K. is set for a 'hard Brexit', which implies a complete separation from the European Union, as Prime Minister Theresa May said on Tuesday that her country will not remain a member of the single market. Britain will not seek to "hold on to bits of [EU] membership" and the country also will not seek to adopt models that are enjoyed by other countries, May said in a speech.
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Draghi Says Underlying Inflation Pick Up Unconvincing
Eurozone inflation is being driven largely by energy costs and the recent pick up in momentum is unlikely to sustain, European Central Bank President Mario Draghi said Thursday, adding that policymakers will continue to look through transient changes. "There are no signs yet of a convincing upward trend in underlying inflation," Draghi said.
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Hong Kong PMI Slips To Contraction - Nikkei
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Business conditions in Hong Kong swung to stagnation in January, the latest survey from Nikkei revealed on Friday with a PMI score of 49.9.
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Draghi Says Eurozone Still Needs ECB Stimulus
Recent resilience shown by the euro area economy in the face of several negative shocks suggests it is on the right track, but it still requires monetary policy stimulus to bring inflation to the target in a sustainable way, European Central Bank President Mario Draghi said Monday.
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Philly Fed Index Soars To 33-Year High In February
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A reading on Philadelphia-area manufacturing activity unexpectedly showed a substantial acceleration in the pace of growth in the month of February, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday. The Philly Fed said its index for current manufacturing activity in the region soared to 43.3 in February from 23.6 in January.
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Hong Kong GDP Growth To Improve In 2017
Hong Kong's economic growth is forecast to improve this year, driven by domestic demand and sustained increase in infrastructure and construction activities, Financial Secretary Paul Chan said in his 2017-18 budget speech on Wednesday. The economy is projected to grow 2-3 percent this year compared to a moderate growth of 1.9 percent in 2016.
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U.S. GDP Growth Unrevised At 1.9% In Q4
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Economic growth in the U.S. in the fourth quarter of 2016 was unrevised in the latest report released by the Commerce Department on Tuesday.
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India Growth Slows Yet Economy Remains 'Fastest Growing'
India's economy expanded at a slower pace in the three months to December, but remained the fastest growing among major economies, despite the damping effect of the government's shock move of currency demonetization implemented in November. Gross domestic product rose an annual 7 percent in the three months to December following 7.4 percent growth in the September quarter.
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