Tagged: UK

UK consumer confidence index for March

The novel coronavirus pneumonia index rose from March to -16 in March, the highest level in the year, showing that the public is more and more confident in the recovery of the new crown pneumonia epidemic, GfK data released by British market research firm on Friday showed. The -16 index is the most important factor in the world’s economic growth.

UK consumer confidence index for March

Although the index is still well below the long-term average of – 9, the survey shows that optimism is rising in all sub indicators.

 

GfK said UK households’ expectations of the economic outlook and personal financial situation improved rapidly this month, which hit a three-year high.

 

Joe staton, head of customer strategy at GfK, said: “if this improved sentiment turns into spending, it could help reverse some of the economic losses suffered by the UK. Our main purchasing index rose 8 percentage points to – 11, indicating that this is likely to happen. ”

 

The situation is likely to improve further in the coming months, he added.

The United Kingdom approved the use of the new crown vaccine !

Investors are betting that vaccines will accelerate economic recovery

On Wednesday, U.S. time, the three major U.S. stock indexes opened low and moved high, with mixed gains at the close. Among them, the Dow rose 0.2%, the S&P 500 rose 0.18%, and set a new closing record high again, while the Nasdaq closed down 0.05%. News surrounding the new crown vaccine still dominates the U.S. stock market. According to US media reports, the first batch of new crown vaccines under the US drug maker Pfizer and Modena will be delivered in December, including New York, Nebraska and other parts. The state will receive different doses of vaccines. These news further promoted the rotation of market funds. The financial and energy sectors, which are closely related to the economic cycle, saw the biggest gains on Wednesday.

US market

Data shows that the recovery of the U.S. job market has slowed

In terms of data, the American Automatic Data Processing Company, also known as ADP, reported that the number of private-sector employment in the United States increased by 307,000 in November, which was far lower than the market estimate of an increase of 440,000, and this statistic is continuous. There was a decline in the second month. This trend is also in line with the description of the U.S. economy in the Fed’s Beige Book published on Wednesday. The Beige Book mentions that although employment rates in almost all regions are rising, the rate of increase in employment and the overall economic growth rate are also Slow down. Economists said that the restrictions on business activities in response to the second wave of the new crown pneumonia epidemic have affected the job market, which undoubtedly put pressure on the US Congress, because only a new round of financial assistance can be launched as soon as possible to maintain economic recovery. .

The UK takes the lead in approving the use of Pfizer and German biotech company’s new crown vaccine, boosting the UK stock market

The three major European stock markets were mixed on Wednesday. The London and Paris stock markets closed up 1.23% and 0.02%, respectively, while the Frankfurt stock market in Germany closed down 0.52%. The new crown vaccine jointly developed by the US drugmaker Pfizer and the German biotech company BioNTech was approved by the British regulatory agency on Wednesday and will be put on the market next week. Superimposed on the boost brought by the decline in the pound, the UK FTSE 100 index closed sharply High and outperformed most European stock indexes. On the data side, German retail sales in October increased by 2.6% month-on-month, but this news did not promote the rise of the German Frankfurt stock market because a source previously revealed to the media that the German government plans to extend restrictions on restaurants and hotels Until January next year.

New crown vaccine progress improves crude oil demand prospects, international oil prices rebound

Crude oil prices rose significantly on Wednesday, with US WTI light crude oil futures closing at $45.28 per barrel and Brent crude oil futures closing at $48.25 per barrel. The news that the UK has approved the large-scale use of the new crown vaccine has helped improve the outlook for crude oil demand. In addition, last week, US crude oil inventories decreased by about 680,000 barrels, which is also good news for oil prices.

U.S. dollar continues to weaken, pushing up gold prices

The price of gold rose on Wednesday, and gold futures for delivery in February 2021 closed at US$1830.20 per ounce. The dollar index is still at its lowest level in two and a half years, helping to support gold prices.