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Dollar Rebounds On Safe-haven Appeal

The U.S. dollar was quite firm against its rivals on Friday thanks to its safe-haven appeal amid worries about rising coronavirus cases and stricter lockdown restrictions in several countries. The Commerce Department said retail sales fell by 0.7% in December after tumbling by a revised 1.4% in Nove

Treasuries Move Back To The Upside On Disappointing Retail Sales Data

Following the pullback seen in the latter part of the previous session, treasuries rebounded during trading on Friday. Bond prices saw some volatility early in the session but ended the day firmly in positive territory. As a result, the yield on the benchmark ten-year note, which moves opposite of i

Negative Reaction To Earnings News, Retail Sales Data Weighing On Wall Street

Stocks have moved sharply lower over the course of morning trading on Friday, extending the pullback seen late in the previous session. With the drop, the Dow and the Nasdaq are pulling back further off the record intraday highs set in early trading on Thursday. The major averages have climbed off t

U.S. Consumer Sentiment Dips More Than Expected In January

Preliminary data released by the University of Michigan on Friday showed a modest deterioration in U.S. consumer sentiment in the month of January. The report said the consumer sentiment index dipped to 79.2 in January after jumping to 80.7 in December. Economists had expected the index to edge down

Bank Of Italy Sees 3.5% GDP Growth This Year

The Italian economy is set to expand this year and next, but will return to pre-pandemic levels only in 2023, the Bank of Italy projections showed Friday. Gross domestic product is set to grow 3.5 percent this year, after a massive 9.2 percent contraction in 2020, due to the disruption caused by the

U.S. Business Inventories Increase In Line With Estimates In November

Business inventories in the U.S. increased in line with economist estimates in the month of November, according to a report released by the Commerce Department on Friday. The report said business inventories rose by 0.5 percent in November after climbing by an upwardly revised 0.8 percent in October

UK Economy To Log Negative Growth In Q1: NIESR

The UK economy is set to log negative growth in the first three months of this year, the National Institute of Social and Economic research said Friday, as the country went into a third and a tighter lockdown at the start of the year to battle the new and fast-spreading strain of coronavirus and due

U.S. Industrial Production Jumps Much More Than Expected In December

The Federal Reserve released a report on Friday showing U.S. industrial production jumped by much more than expected in the month of December. The Fed said industrial production surged up by 1.6 percent in December after climbing by an upwardly revised 0.5 percent in November. Economists had expecte

COVID-19 Deaths Up By At Least 10% In 25 US States

COVID-19 deaths are up by 10 percent or more in 25 states across the United States, as per latest data published by COVID Tracking Project. Over the past week, an average of more than 3,300 deaths from coronavirus infection occurred in the country every day, which marks an increase of 217 percent fr

Biden's Relief Proposal To Include $1 Tln In Direct Relief To Households

President-elect Joe Biden unveiled a $1.9 trillion economic stimulus package proposal to lift the U.S. economy as well as its people, badly hit by the coronavirus pandemic. The relief proposal includes $1 trillion in direct relief to households, $415 billion to fight the pandemic and $440bn for smal

U.S. Retail Sales Continue To Slump Amid Spike In Coronavirus Cases

Retail sales in the U.S. continued to decline in the month of December, according to a report released by the Commerce Department on Friday. The Commerce Department said retail sales fell by 0.7 percent in December after tumbling by a revised 1.4 percent in November. Economists had expected retail s

New York Manufacturing Index Unexpectedly Indicates Slower Growth In January

Activity in the New York manufacturing sector unexpectedly grew at a slower pace in the month of January, the Federal Reserve Bank of New York revealed in a report released on Friday. The New York Fed said its general business conditions index slipped to 3.5 in January from 4.9 in December, although

U.S. Retail Sales Drop 0.7% In December

Retail sales in the U.S. continued to decline in the month of December, according to a report released by the Commerce Department on Friday. The Commerce Department said retail sales fell by 0.7 percent in December after tumbling by a revised 1.4 percent in November. Economists had expected retail s

New York Manufacturing Index Unexpectedly Edges Lower In January

Activity in the New York manufacturing sector unexpectedly grew at a slower pace in the month of January, the Federal Reserve Bank of New York revealed in a report released on Friday. The New York Fed said its general business conditions index slipped to 3.5 in January from 4.9 in December, although

U.S. Producer Prices Rise 0.3% In December

A report released by the Labor Department on Friday showed U.S. producer prices increased by slightly less than expected in the month of December. The Labor Department said its producer price index for final demand rose by 0.3 percent in December after inching up by 0.1 percent in November. Economis

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