Forex and Currency News

Norway inflation eases to lowest level since September 2023

Norway’s annual consumer price inflation has decelerated to 3.6% in April from 3.9% in March, the latest data by Statistics Norway showed. In comparison, a consensus of analyst estimates had pointed to an annual rate of 3.4%. It has been the lowest CPI inflation rate since September 2023. In April, inflation slowed for housing & […] Read more

Bank of England maintains policy rate at 16-year high

The Bank of England left its benchmark interest rate unchanged at a 16-year high of 5.25% at its policy meeting in May, in line with market expectations. Yet, it became clear that two Monetary Policy Committee members had voted in favor of a 25 basis point rate cut. Borrowing costs have now been left on […] Read more

Norway’s manufacturing production rebounds in March

Manufacturing production in Norway was reported to have increased at a monthly rate of 5.4% in March, while rebounding from a revised down 1% slump in February. In March, production rebounded for textiles, wearing apparel & leather (8.7% month-over-month after a 0.5% drop in February), refined petroleum, chemicals & pharmaceuticals (5.8% month-over-month after a 5.2% […] Read more

Italy’s retail sales surprisingly stall in March

Retail sales in Italy unexpectedly stalled from a month ago in March following a 0.2% increase in February, the latest data by the National Institute of Statistics showed. In comparison, a consensus of analyst estimates had pointed to a 0.2% rise. Italy’s latest figure came in contrast with a 0.8% sales growth in the Euro […] Read more

Sweden’s Riksbank cuts policy rate by 25 bps, SEK retreats

The Swedish Krona weakened sharply against the Euro on Wednesday, after Riksbank cut its benchmark policy rate by 25 basis points to 3.75% at its May policy meeting, in line with market consensus. It has been the first rate cut since 2016, which followed the tightening cycle that began two years ago. With CPI inflation […] Read more

Canada’s Ivey PMI reported at two-year high

Canada’s seasonally adjusted Ivey Purchasing Managers’ Index was reported at a reading of 63.0 in April, up from 57.5 in March. The latest PMI result exceeded a consensus of analyst estimates of 58.1 and has also been the highest in two years. The sub-index of prices was reported at its highest level since December, at […] Read more

Germany’s trade surplus expands to EUR 22.3 billion in March

Germany’s trade balance surplus has widened to EUR 22.3 billion in March from EUR 21.4 billion in February, the latest data by the Federal Statistical Office showed. In comparison, market consensus had pointed to a surplus of EUR 22.4 billion. Total exports went up 0.9% month-over-month to EUR 134.1 billion in March, while rebounding after […] Read more

Switzerland’s unemployment rate lowest since December 2023

Switzerland’s jobless rate was reported at 2.3% in April, down from 2.4% in March, the latest data by the State Secretariat for Economic Affairs showed on Tuesday. It has been the lowest rate since December 2023. The number of unemployed individuals decreased by 1,636 to 106,957 in April compared to a month ago. Switzerland’s youth […] Read more

Sweden’s services sector shrinks in April

Sweden’s services sector has contracted in April, data by Swedbank showed on Monday, which followed four consecutive months of expansion. The Services Purchasing Managers’ Index came in at a reading of 48.1 in April, down from a revised up 54.1 in March. Last month, new business volume dropped considerably, with the respective gauge down to […] Read more

Norway’s unemployment rate steady at 2% in April

The jobless rate in Norway was reported at 2% in April, or unchanged from the prior month, data by the Norwegian Labour and Welfare Organisation showed. It has also been the lowest rate since December 2023. The number of unemployed persons in the country went down to 71,220 in April from 71,560 in March, the […] Read more