According to the PMI DATA for March, the UK economy is springing back to life and creating more jobs for the first time since February. Employment Increases This Year The Manufacturing PMI read at 57.9, above the 55.0 forecast and 55.1 reported in February. The Services PMI - which covers the largest component of the UK economy - read at 56.8, above the consensus expectation … [Read more...] about UK Economy Surges and Employment Increases for the First Time in Months
Economy
Pound Sterling and Franc Forecasts Flag Scope for 1.35 in 2021
The Pound-to-Swiss Franc exchange rate was lower on Wednesday but remained the best performer of the Sterling currency complex for 2021 and has been increasingly tipped for further gains later in the year, including by Goldman Sachs, Barclays, BofA Global Research, and Natwest Markets. Pound Sterling vs. Franc Pound Sterling was under pressure as risk currencies were swept up … [Read more...] about Pound Sterling and Franc Forecasts Flag Scope for 1.35 in 2021
Pound Sterling Decreases to Six-Week Lows, a Turn in Trend Against Euro and US Dollar
The British Pound's sell-off extends into the midweek session and sees the currency record a new six-week low against the U.S. Dollar and a two-week low against the Euro. Investors turn increasingly pessimistic about the global economic outlook. However, some analysts we follow says the Pound should ultimately remain well-supported thanks to the country's vaccine rollout … [Read more...] about Pound Sterling Decreases to Six-Week Lows, a Turn in Trend Against Euro and US Dollar
Germany’s Economy Strained Again After New Virus Variant Forces Lockdown Through Easter
Germany is extending its lockdown until April 18 and calling on citizens to stay at home for five days over the Easter holidays to try to break a third wave of the Covid-19 pandemic, Chancellor Angela Merkel said early on Tuesday. In talks that ran deep into the night, Merkel pushed the leaders of Germany's 16 states to take a tougher stance to fight the pandemic, reversing … [Read more...] about Germany’s Economy Strained Again After New Virus Variant Forces Lockdown Through Easter
Italy Expects COVID-19 Lockdown to be Lifted in May, Economy Back on Track
Italy’s business lobby Confindustria said on Saturday, is expected to revise its growth estimate for the economy in 2021 despite a rebound projected from the second half of the year. A monthly report published by its research unit CSC said the rebound seen starting in the third quarter of the year would be strong and could exceed initial estimates if Italy’s COVID-19 … [Read more...] about Italy Expects COVID-19 Lockdown to be Lifted in May, Economy Back on Track