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| As on Apr 18, 2024 12:00 AM |
Your results on : Currency News |
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| New car sales in the EU declined for the first time in three months in March amid weaker demand among four major markets, data from the European Automobile Manufacturers' Association, or ACEA, showed Thursday. New car registrations fell 5.2 percent year-over-year to 1.0 million units in March, following a 10.1 percent surge in February. The timing of the Easter holidays negatively impacted last month's sales across most EU markets, the ACEA said. German market showed the worst plunge of 6.2 percent, followed by Spain with a 4.7 percent tumble. In Italy too, the car sales fell 3.7 percent over the year, and the French car market saw 1.5 percent decline. Powered by Commodity Insights |
| The euro area current account surplus decreased to a 3-month low in February, the European Central Bank reported Thursday. The current account surplus dropped to EUR 29.0 billion in February from EUR 39.0 billion in January. This was the lowest surplus since November last year. The surplus on goods trade decreased to EUR 34 billion from EUR 48 billion. By contrast, the surplus on services rose to EUR 7.0 billion from EUR 4.0 billion. Primary income posted a shortfall of EUR 2.0 billion in February, compared to a EUR 3.0 billion deficit last month. Similarly, the shortfall in secondary income narrowed to EUR 9.0 billion from EUR 10.0 billion. In the financial account, euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 443 billion, and non-residents' net acquisitions of euro area portfolio investment securities amounted to EUR 614 billion in the 12 months to February 2024, the data showed. Powered by Commodity Insights |
| Japan's tertiary activity index increased at a faster-than-expected pace in February, according to data from the Ministry of Economy, Trade, and Industry on Thursday. The seasonally adjusted tertiary activity index rose 1.5 percent month-on-month in February, reversing a 0.5 percent decrease in January. Among the individual components, living and amusement-related services, retail trade, wholesale trade, transport and postal activities, information and communications, finance and insurance, business-related services, electricity, gas, heat supply and water, and goods rental and leasing increased in February. Meanwhile, medical, health care and welfare, and real estate decreased. On a yearly basis, the tertiary activity index increased at a faster pace of 2.5 percent in February after a 1.0 percent gain in the prior month. Moreover, it was the quickest increase in six months. Powered by Commodity Insights |
| Australia's seasonally adjusted unemployment rate increased to 3.8% in March 2024 from February's 3.7%. The number of unemployed individuals rose by 20.6 thousand to 569.9 thousand. Full-time job seekers increased by 19.3 thousand to 371.3 thousand, while part-time job seekers rose by 1.3 thousand to 198.6 thousand. Employment unexpectedly fell by 6.6 thousand to 14.26 million, with part-time employment dropping by 34.5 thousand to 4.41 million and full-time employment increasing by 27.9 thousand to 9.85 million. The participation rate slightly decreased from 66.7% to 66.6%. The underemployment rate was 6.5%, down 2.3 points from March 2020. Monthly hours in all jobs increased by 17 million, or 0.9%, to 1,956 million. Powered by Commodity Insights |
| Extending the surge seen over the past few weeks, crude oil inventories in the U.S. once again increased more than expected in the week ended April 12th, according to a report released by the Energy Information Administration on Wednesday. The report said crude oil inventories jumped by 2.7 million barrels last week after spiking by 5.8 million barrels in the previous week. At 460.0 million barrels, U.S. crude oil inventories are now only approximately 1 percent below the five-year average for this time of year, the EIA said. Meanwhile, the EIA said gasoline inventories fell by 1.2 million barrels last week are about 4 percent below the five-year average for this time of year. Distillate fuel inventories, which include heating oil and diesel, also decreased by 2.8 million barrels last week and are about 7 percent below the five-year average for this time of year. Powered by Commodity Insights |
| The Federal Reserve released a report on Wednesday saying overall U.S. economic activity has expanded slightly since late February. The Fed's Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, said ten out of twelve districts experienced either slight or modest economic growth. While the other two districts reported no changes in activity, the number of districts reporting slight or modest economic growth is up from eight in the previous report. In contrast to recent upbeat retail sales data, the Fed said consumer spending has barely increased overall but acknowledged reports were quite mixed across districts and spending categories. Expanding on the issue of inflation, the Beige Book said price increases were modest, on average, running at about the same pace as in the last report. The Fed said disruptions in the Red Sea and the collapse of Baltimore's Key Bridge have so far not led to widespread price increases, but several districts noted moderate increases in energy prices and sharp increases in insurance rates. On the labor market front, the Beige Book said employment rose at a slight pace overall, with nine districts reporting very slow to modest increases and the remaining three reporting no changes in employment. Wages grew at a moderate pace in eight districts, while the remaining four noted only slight to modest wage increases, the Fed added. Powered by Commodity Insights |
| UK consumer price inflation softened in March to the lowest since September 2021, the Office for National Statistics reported Wednesday. Inflation weakened to 3.2 percent in March from 3.4 percent in February. The March inflation was the lowest since September 2021, when it was 3.1 percent. At the same time, core inflation that excludes energy, food, alcohol and tobacco, eased to 4.2 percent from 4.5 percent in February. The rate was seen at 4.1 percent. On a monthly basis, the consumer price index moved up 0.6 percent, the same as in February. Another data from the ONS showed that input prices fell 2.5 percent in the year to March, worse than a revised fall of 2.2 percent in the year to February. Meanwhile, factory gate inflation rose to 0.6 percent from 0.4 percent in the previous month. On a monthly basis, input prices fell 0.1 percent but output prices rose 0.2 percent in March. Powered by Commodity Insights |
| Japan posted a merchandise trade surplus of 366.5 billion yen in March, the Ministry of Finance said on Wednesday. Exports were up 7.3 percent on year to 9.469 trillion yen after adding 7.8 percent in the previous month. Imports slumped an annual 4.9 percent to 9.103 trillion yen after rising 0.5 percent a month earlier. Powered by Commodity Insights |
| A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased in line with economist estimates in the month of March. The Fed said industrial production climbed by 0.4 percent in March, matching the upwardly revised advance in February. The increase in production partly reflected a rebound by utilities output, which surged by 2.0 percent in March after plummeting by 7.6 percent in February. Manufacturing output also climbed by 0.5 percent in March after jumping by 1.2 percent in February, boosted in part by a 3.1 percent spike in motor vehicles and parts output. Meanwhile, the report said mining output tumbled by 1.4 percent in March after surging by 3.0 percent in the previous month. The Fed also said capacity utilization in the industrial sector rose to 78.4 percent in March from a downwardly revised 78.2 percent in February. Capacity utilization in the utilities sector jumped to 69.1 percent in March from 67.9 percent in February, while capacity utilization in the manufacturing sector rose to 77.4 percent from 77.1 percent. On the other hand, capacity utilization in the mining sector fell to 91.0 in March from 92.3 percent in the previous month. Powered by Commodity Insights |
| The International Monetary Fund said on Tuesday that a resilient global economy is set for steady growth in the next two years as inflation returns to target gradually, but the growth will be uneven amid persistent risks. Global growth is set to remain at 3.2 percent this year and next, the same as in 2023, the IMF said in its latest World Economic Outlook. The forecast for this year was raised by a percentage point from January, while the outlook for next year was retained. The latest forecast for global growth five years from now--at 3.1 percent--is at its lowest in decades, the IMF said. Risks to the global economic outlook are now broadly balanced, the WEO report said. Powered by Commodity Insights |
| According to the figures released by the Eurostat, the first estimates of euro area balance showed a ?23.6 bn surplus in trade in goods with the rest of the world in February 2024, compared with +?3.6 bn in February 2023. The euro area exports of goods to the rest of the world in February 2024 were ?235.0 billion, a slight increase of 0.3% compared with February 2023 (?234.4 bn). Imports from the rest of the world stood at ?211.4 bn, a fall of 8.4% compared with February 2023 (?230.8 bn). In February 2024, the surplus recorded in the ?machinery and vehicles? sector nearly doubled compared with January 2024 and the deficit recorded for 'energy' products continued to decrease. As a result, the overall surplus increased. In the first two months of 2024, the euro area recorded a surplus of ?35.2 bn, compared with -?28.4 bn in January-February 2023. The euro area exports of goods to the rest of the world rose to ?460.7 bn (an increase of 0.6% compared with January-February 2023), and imports fell to ?425.5 bn (a decrease of 12.5% compared with January-February 2023). Intra-euro area trade fell to ?428.9 bn in January-February 2024, down by 6.2% compared with January-February 2023. The first estimates of EU balance showed a ?22.1 bn surplus in trade in goods with the rest of the world in February 2024, compared with +?2.0 bn in February 2023. The EU exports of goods in February 2024 were ?210.6 billion, up by 0.7% compared with February 2023 (?209.0 bn). The EU Imports of goods stood at ?188.5 bn, down by 9.0% compared with February 2023 (?207.0 bn). In January to February 2024, the EU recorded a surplus of ?28.4 bn, compared with a deficit of ?36.6 bn in January-February 2023. The EU exports of goods rose to ?409.8 bn (an increase of 0.5% compared with January-February 2023), and imports fell to ?381.4 bn (a decrease of 14.2% compared with January-February 2023). Powered by Commodity Insights |
| In March 2024, the selling prices in wholesale trade in Germany were 3.0% lower than in March 2023. The Federal Statistical Office (Destatis) also reports that the change on the previous year was also -3.0% in February 2024, and -2.7% in January 2024. Compared with February 2024, wholesale prices rose by 0.2% in March 2024. Powered by Commodity Insights |
| The UK unemployment rate rose in three months to February, data from the Office for National Statistics showed on Tuesday. The ILO jobless rate rose to 4.2 percent from 3.9 percent in three months to January. The rate was seen at 4.0 percent. In March, payrolled employment declined by 18,000 on month. The claimant count increased by 10,900 on the month to 1.583 million in March. Powered by Commodity Insights |
| China's surveyed unemployment rate decreased to 5.2% in March 2024, down from 5.3% in the previous month. The jobless rate among locally registered residents was 5.3%, while non-local registered residents had a rate of 5.1%, with non-local agricultural registrants at 5.0%. In major cities, the urban unemployment rate was 5.1%. Employees in enterprises worked an average of 48.6 hours per week. By the end of the first quarter, the count of rural migrant workers increased by 2.2% year-on-year to 185.9 million. For January to March, the urban surveyed jobless rate averaged 5.2%, down by 0.3 percentage points from the same period last year. Powered by Commodity Insights |
| China's fixed-asset investment increased by 4.5% year-on-year in January to March 2024, up from a 4.2% rise in the previous month. This marks the largest growth since April 2023, driven by accelerated investment in the secondary sector, particularly in the mining industry and electricity, heat, gas, and water. Investment in the primary sector also rebounded, while the tertiary sector continued to grow, albeit at a slower pace. However, investment in real estate contracted by 9.5% annually in the first quarter, compared to a 9.4% drop in the previous period. Powered by Commodity Insights |
| China's industrial capacity utilization rate fell to 73.6% in the first quarter of 2024, down from 74.3% in the same period a year earlier. This marks the lowest rate since Q1 2020, with decreases observed across all sectors including electricity, heat, gas, and water, mining, and manufacturing. The decline is part of a trend, as the industrial capacity utilization rate eased from 75.6% in 2022 to 75.1% in 2023. Powered by Commodity Insights |
| China's retail sales rose by 3.1% year-on-year in March 2024, marking the 14th consecutive month of increase but at a slower pace compared to the prior period's 5.5% rise. Sales growth eased for various categories including gold, silver, and jewelry, furniture, communications equipment, and oil products. Conversely, sales accelerated for grain and food oil, clothing, home appliances, and building materials. Personal care sales also rebounded, increasing by 3.5% after a previous decline. Office supplies and car sales, however, continued to decline. Powered by Commodity Insights |
| China's gross domestic product gained 5.3 percent on year in the first quarter of 2024, the National Bureau of Statistics said on Tuesday - exceeding expectations for an increase of 4.8 percent and up from 5.2 percent in the previous three months. On a seasonally adjusted quarterly basis, GDP was up 1.6 percent - accelerating from 1.0 percent in the three months prior. The bureau also said that industrial production rose 4.5 percent on year in March, shy of forecasts for a gain of 5.4 percent and down from 7.0 percent in February. Retail sales were up 3.1 percent in March, missing expectations for 5.1 percent and down from 5.5 percent in the previous month. Fixed asset investment improved an annual 4.5 percent in March, surpassing expectations for 4.0 percent and up from 4.2 percent a month earlier. House prices slipped 2.2 percent on year in March after sinking 1.4 percent in February. The jobless rate came in at 5.2 percent, in line with expectations and down from 5.3 percent in the previous month. Powered by Commodity Insights |
| The Commerce Department released a report on Monday showing U.S. retail sales increased by much more than expected in the month of March. The report said retail sales climbed by 0.7 percent in March after advancing by an upwardly revised 0.9 percent in February. The stronger than expected retail sales growth came despite a pullback in sales by motor vehicle and parts dealers, which slid by 0.7 percent in March after spiking by 2.5 percent in February. Excluding the decrease in auto sales retail sales jumped by 1.1 percent in March after climbing by 0.6 percent in February. The sharp increase in ex-auto sales partly reflected a 2.7 percent spike in sales by non-store retailers along with a 2.1 percent surge in sales by miscellaneous store retailers. The report also showed sales by gas stations shot up by 2.1 percent in March after jumping by 1.6 percent in February amid higher gas prices. While sales by general merchandise stores also saw a notable increase, sales by sporting goods, hobby, musical instrument, and book stores; clothing and accessories stores; and electronics and appliance stores slumped. The report also said core retail sales, which exclude automobiles, gasoline, building materials and food services, jumped by 1.1 percent in March after rising by 0.3 percent in February. Powered by Commodity Insights |
| Homebuilder confidence in the U.S. came in flat in the month of April, the National Association of Home Builders revealed in a report released on Monday. The report said the NAHB/Wells Fargo Housing Market Index came in at 51 in April, unchanged from March. The unchanged reading halts a four-month advance by the housing market index, which reached its highest level since last July in the previous month. The housing market index came in unchanged compared to the previous month amid a mixed performance by the three component indices. While the index charting current sales conditions and the component gauging traffic of prospective buyers both inched up by one point to 57 and 35, respectively, the component measuring sales expectations in the next six months fell two points to 60. Powered by Commodity Insights |
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