Not expecting recession in 2023
Share: Australia’s Treasurer Jim Chalmers said on Wednesday, they are not foreseeing a recession for the Australian economy despite a potential downturn. Key quotes “The expectation of the Treasury forecasters is higher interest rates combined with difficult global conditions will slow our economy considerably, but they don’t expect at this point a recession here […]
German Preliminary Manufacturing PMI drops to 47.0 in January vs. 47.9 expected
German Manufacturing PMI arrives at 47.0 in January vs. 47.9 expected. Services PMI in Germany jumps to 50.4 in January vs. 49.7 expected. EUR/USD erases gains near 1.0870 on mixed German PMIs. The German manufacturing sector contraction moderated in January even as inflation continues to slow, the preliminary manufacturing activity report from S&P Global/BME research […]
German ZEW Economic Sentiment Index rebounds to 16.9 in January vs. -15.5 expected
Economic sentiment in Germany and the Eurozone unexpectedly turned positive in January. EUR/USD remains unimpressed by the upbeat ZEW surveys, keeping its range around 1.0815. The German ZEW headline numbers showed that the Economic Sentiment Index returned to positive territory, arriving at 16.9 in January from -23.3 in December, beating the market expectation of -15.5. […]
Fragmentation could shave up to 7.0% off of global GDP
In a new staff report published on Sunday, the International Monetary Fund (IMF) said that a severe economic fragmentation of the global could cost global Gross Domestic Output up to 7.0% but the losses could reach 8-12% in some countries if technology is also decoupled. Additional takeaways “Even limited fragmentation could shave 0.2% off of […]
UoM Consumer Confidence Index improves to 64.6 in January vs. 60.5 expected
Consumer confidence in the US continued to rise in early January. US Dollar Index holds in daily range above 102.00 after the data. Consumer sentiment improved in the US in early January with the University of Michigan’s (UoM) Consumer Confidence Index rising to 64.6 from 59.7 in December. This reading came in better than the […]
JOLTS Job Openings little changed at 10.45 million in November
Job openings in the US declined margianlly in November. US Dollar Index continues to rise toward 104.50. The data published by the US Bureau of Labor Statistics (BLS) revealed on Wednesday that the number of job openings on the last business day of November was 10.45 million, compared to 10.51 million in October and the […]