Financial News

Euro area construction rises weakly in December

Euro area construction outcome came in soft at the end of 2018. The output data released today implied that growth continued to be soft in the sector. In particular, output dropped for the second month out of the last three in December and by 0.4 percent sequentially, due to a 0.7 percent fall in building construction.

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Czech koruna likely to start appreciating in Q2 2019, EUR/CZK to trade around 24.8 by end-2019

External factors continue to still negatively impact the development of Czech koruna and its current level does not correspond to the favorable development of the Czech economy and increasing interest rate differential towards the euro area.

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Bank of Korea likely to continue with pro-growth stance

The Bank of Korea is likely to continue with its pro-growth stance given mounting risks of disinflation/deflation, supportive of local financial markets, noted Scotiabank in a research report. South Korean consumer price inflation decelerated to a 12-month low of 0.8 percent year-on-year in January and is expected to fall into deflationary territory on the base effect in the coming months.

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U.K. employment rises in Q4 2018, jobless rate remains stable at 4 pct

The latest report from the ONS showed that the U.K. labor market ended 2018 on a strong footing. In the fourth quarter of last year, employment rose 167k from the third quarter, while the jobless rate remained stable at 4 percent, as anticipated.

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FxWirePro: CBT Drives USD/TRY Uptrend Resumption Uphold Debit Call Spreads bidding 3m skews

Last weekend, the Turkish central bank (CBT) cut reserve requirements on lira deposits by 100bps for short-term deposits (up to one year) and by 50bps for the longer duration. CBT also increased the share of the reserve requirements that can be held in gold to 10% from 5%.

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