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*U.S. Crude Oil Inventories Edge Up By 400,000 Barrels In Week Ended 2/14

U.S. Crude Oil Inventories Edge Up By 400,000 Barrels In Week Ended 2/14 The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Leading Economic Index Climbs Much More Than Expected In January

Indicating the current economic expansion will continue through the first half of 2020, the Conference Board released a report on Thursday showing a much bigger than expected increase by its reading on leading U.S. economic indicators. The Conference Board said its leading economic index climbed by 0.8 percent in January after falling by 0.3 percent in December. Economists had expected the index to rise by 0.3 percent. The bigger than expected rebound by the index reflected a sharp drop in initial jobless claims, increasing housing permits, an improvement in consumers’ outlook on the economy and positive contributions from financial indicators. “The LEI’s six-month growth rate has returned to positive territory, suggesting that the current economic expansion – at about 2 percent – will continue through early 2020,” said Ataman Ozyildirim, Senior Director of Economic Research at the Conference Board. He added, “While weakness in manufacturing appears to show signs of softening, the COVID-19 outbreak may impact manufacturing supply chains in the US in the coming months.” The report also said the coincident economic index inched up by 0.1 percent in January after showing no change in December. Meanwhile, the lagging economic index came in unchanged in January after edging…

*U.S. Leading Economic Index Climbs 0.8% In January

U.S. Leading Economic Index Climbs 0.8% In January The material has been provided by InstaForex Company – www.instaforex.com…

U.S. Weekly Jobless Claims Show Modest Increase

A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended February 15th. The Labor Department said initial jobless claims crept up to 210,000, an increase of 4,000 from the previous week’s revised level of 206,000 Economists had expected jobless claims to inch up to 210,000 from the 205,000 originally reported for the previous week. Meanwhile, the report said the less volatile four-week moving average edged down to 209,000, a decrease of 3,250 from the previous week’s revised average of 212,250. The Labor Department also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 25,000 to 1.726 million in the week ended February 8th. The four-week moving average of continuing claims still dipped to 1,722,250, a decrease of 5,250 from the previous week’s revised average of 1,727,500. The material has been provided by InstaForex Company – www.instaforex.com…

UK Retail Sales Rebound In January

UK retail sales rose for the first time in three months in January and at a faster than expected pace, led by a strong demand for clothing and footwear and food. The volume of retail sales including auto fuel rose 0.9 percent month-on-month, which was greater than the 0.7 percent gain economists had expected. In November and December, retail sales fell 0.8 percent and 0.5 percent, respectively. The latest increase was the biggest since March last year, when sales grew 1.1 percent. Excluding auto fuel, retail sales grew for the first time in six months, up 1.6 percent from the previous month, when it dropped 0.8 percent. Economists had forecast a 0.8 percent increase. The growth was the biggest since May 2018, when sales rose 2.2 percent. Sales of food grew 1.7 percent, while fuel sales slumped 5.7 percent, thanks to an increase in fuel prices. Non-food sales increased 1.3 percent, largely led by a 3.9 percent increase in stores selling textiles, clothing and footwear, which was the biggest gain since May 2018. Year-on-year, retail sales including auto fuel grew 0.8 percent in January after a 0.9 percent increase in December. Economists had forecast a 0.6 percent increase. Without auto…

Poland Industrial Production Rises; Producer Price Inflation Slows

Poland’s industrial production rose unexpectedly in January, and producer price inflation slowed, figures from the Statistics Poland showed on Thursday. Industrial production rose 1.1 percent year-on-year in January. Economists had expected a 0.1 percent fall. Manufacturing output rose 1.9 percent annually in January. Among the main sectors, production of water supply grew 7.5 percent. Meanwhile, production of mining and quarrying, and electricity, gas, steam and air conditioning supply declined 10.4 percent and 4.2 percent, respectively. Intermediate goods output increased by 3.1 percent, and production of durable consumer goods and capital goods rose by 2.0 percent and 1.0 percent, respectively. Energy and non-durable consumer goods production decreased by 3.7 percent and 1.0 percent, respectively. On a monthly basis, industrial production gained 4.5 percent in January. On a seasonally adjusted basis, industrial production rose 3.5 percent annually in January. Another data showed that the producer prices rose 0.8 percent year-on-year in January, slower than 1.0 percent in December. This was in line with economists’ expectation. On a month-on-month basis, producer prices edged up 0.1 percent in January, same as seen in the preceding month. The material has been provided by InstaForex Company – www.instaforex.com…

Germany Producer Prices Rise Unexpectedly

Germany’s producer prices rose unexpectedly in January, data from Destatis showed on Thursday. The producer price index rose 0.2 percent year-on-year in January, reversing a 0.2 percent decrease seen in December. Economists had expected a 0.4 percent fall. Among the components, prices for non-durable consumer goods grew 3.6 percent annually in January and those of durable consumer goods and capital goods rose by 1.4 percent and 1.3 percent, respectively. Meanwhile, prices for intermediate goods and energy declined by 1.5 percent and 1.0 percent, respectively. On a monthly basis, producer prices increased 0.8 percent in January, following a 0.1 percent rise in the previous month. Economists had expected prices to remain unchanged. The material has been provided by InstaForex Company – www.instaforex.com…

*UK Jan Retail Sales Ex-auto Fuel Up 1.6% M/M V. -0.8% In Dec, Consensus 0.8%

UK Jan Retail Sales Ex-auto Fuel Up 1.6% M/M V. -0.8% In Dec, Consensus 0.8% The material has been provided by InstaForex Company – www.instaforex.com…

Chinese Yuan Slides To More Than 2-month Low Against U.S. Dollar

The Chinese yuan declined against the U.S. dollar in the Asian session on Thursday, as China reduced interest rates to prevent the adverse impact of the coronavirus outbreak. On Thursday, China cut the one-year loan prime rate or LPR by 10 basis points in order to lower financing costs for businesses. The five-year rate was reduced to 4.75 percent from 4.8 percent. The yuan fell to 7.0256 against the greenback, its lowest level since December 12. The next possible support for the yuan is seen around the 7.2 level. The People’s Bank of China set today’s central parity rate of the yuan at 7.0026 per dollar, compared to Wednesday’s rate of 7.0012. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level. The material has been provided by InstaForex Company – www.instaforex.com…