*U.S. Crude Oil Inventories Plunge 11.5 Million Barrels In Week Ended 12/27

Trading 03 jan 2020 Commentaire »

U.S. Crude Oil Inventories Plunge 11.5 Million Barrels In Week Ended 12/27


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U.S. Construction Spending Climbs More Than Expected In November

Trading 03 jan 2020 Commentaire »

Construction spending in the U.S. increased by more than expected in the month of November, according to a report released by the Commerce Department on Friday.

The report said construction spending climbed by 0.6 percent to an annual rate of $1.324 trillion in November after inching up by 0.1 percent to an upwardly revised $1.317 trillion in October.

Economists had expected construction spending to rise by 0.3 percent compared to the 0.8 percent slump originally reported for the previous month.

The Commerce Department said spending on private construction rose by 0.4 percent to an annual rate of $985.5 billion in November.

The increase in private construction spending came as spending on residential construction jumped by 1.9 percent to $536.1 billion, more than offsetting a 1.2 percent nosedive in spending on non-residential construction to $449.4 billion.

Spending on public construction also climbed by 0.9 percent to an annual rate of $338.6 billion in November, partly reflecting a 2.2 percent spike in spending on highway construction.

Compared to the same month a year ago, total construction spending in November was up by 4.1 percent, as spending on private construction increased by 1.6 percent and spending on public construction spiked by 12.4 percent.


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U.S. Manufacturing Index Unexpectedly Drops To Ten-Year Low

Trading 03 jan 2020 Commentaire »

Reflecting lingering concerns about global trade, the Institute for Supply Management released a report on Friday showing U.S. manufacturing activity unexpectedly contracted at a faster rate in the month of December.

The ISM said its purchasing managers index slid to 47.2 in December from 48.1 in November, with a reading below 50 indicating a contraction in manufacturing activity.

The modest decrease came as a surprise to economists, who had expected the manufacturing index to inch up to 49.0.

With the unexpected drop, the index pointed to the fastest rate of contraction in manufacturing activity since June of 2009.

"Global trade remains the most significant cross-industry issue, but there are signs that several industry sectors will improve as a result of the phase-one trade agreement between the U.S. and China," said Timothy Fiore, Chair of the ISM Manufacturing Business Survey Committee.

The unexpected decrease by the headline index was partly due to a notable acceleration in the pace of contraction in production, as the production index plunged to 43.2 in December from 49.1 in November.

The report also showed a slightly faster pace of contraction in new orders, with the new orders index dipping to 46.8 in December from 47.2 in November.

The employment index also fell to 45.1 in December from 46.6 in November, suggesting the manufacturing sector lost jobs at faster rate.

Meanwhile, the report said the prices index surged up to 51.7 in December from 46.7 in November, pointing to a turnaround in raw materials prices after six consecutive months of decreases.

The ISM is scheduled to release a separate report next Tuesday on activity in the service sector in the month of December.

The non-manufacturing index is expected to rise to 54.5 in December after dipping to 53.9 in November, with a reading above 50 indicating growth in service sector activity.


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*ISM U.S. Manufacturing Index Drops To 47.2 In December

Trading 03 jan 2020 Commentaire »

ISM U.S. Manufacturing Index Drops To 47.2 In December


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*U.S. Construction Spending Climbs 0.6% In November

Trading 03 jan 2020 Commentaire »

U.S. Construction Spending Climbs 0.6% In November


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Eurozone M3 Money Supply Growth Eases In November

Trading 03 jan 2020 Commentaire »

The annual growth in a broad measure of Eurozone money supply slowed in November, figures from the European Central Bank showed on Friday.

M3, a broad monetary aggregate, grew 5.6 percent year-on-year after a 5.7 percent increase in October, which was revised from 5.6 percent.

The annual growth in the narrower monetary aggregate M1, which includes currency in circulation and overnight deposits, slowed to 8.3 percent from 8.4 percent.

Growth in lending to households was steady at 3.5 percent, while the pace of increase in loans to businesses slowed to 3.4 percent from 3.8 percent.


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German Inflation At 5-month High

Trading 03 jan 2020 Commentaire »

Germany's consumer price inflation was the highest in five months in December, preliminary data from the Federal Statistical Office showed on Friday.

The consumer price index, or CPI, climbed 1.5 percent year-on-year following increases of 1.1 percent each of the previous two months. Economists had forecast an inflation rate of 1.4 percent.

The latest inflation rate was the highest since July, when it was 1.7 percent.

Food inflation accelerated to 2.1 percent from 1.8 percent, while the fall in energy prices eased to 0.1 percent from 3.7 percent.

On a month-on-month basis, the CPI grew 0.5 percent after a 0.8 percent slump in November. Economists were looking for a 0.4 percent increase.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, climbed to 1.5 percent annually from 1.2 percent in November. Economists were looking for 1.4 percent inflation.

Compared to the previous month, the HICP rose 0.6 percent in December after a 0.8 percent slump in the previous month. Economists had predicted a 0.4 percent increase.

On an annual average, the inflation based on both the CPI and the HICP was 1.4 percent in 2019.

The statistical office is set to publish the final results for December on January 16.


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Hungarian Forint Slides To Weekly Low Against U.S. Dollar

Trading 03 jan 2020 Commentaire »

The Hungarian Forint declined against the U.S. dollar in the European session on Friday, as a U.S. airstrike in Baghdad killed a top Iranian commander, rattling global markets.

Iranian Major-General Qassem Soleimani, head of the elite Quds Force, has been killed by the U.S. in the early hours.

The move sparked fears of fresh conflict between Washington and Tehran.

The Hungarian Forint fell to a weekly low of 297.09 against the greenback from yesterday's closing value of 294.40. The next likely downside target for the currency is seen around the 302.00 level.


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Euro Little Changed After German Inflation Data

Trading 03 jan 2020 Commentaire »

German flash inflation data for December has been released at 8:00 am ET Friday. Following the data, the euro changed little against its major counterparts.

The euro was trading at 1.1142 against the greenback, 1.0837 against the franc, 0.8514 against the pound and 120.50 against the yen around 8:03 am ET.


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*Germany 2019 Annual Average CPI Inflation 1.4%; HICP Inflation At 1.4%

Trading 03 jan 2020 Commentaire »

Germany 2019 Annual Average CPI Inflation 1.4%; HICP Inflation At 1.4%


The material has been provided by InstaForex Company - www.instaforex.com