Infographic Template Galleries

Created with Fabric.js 1.4.5 Currency Updatefrom MoneyCorp U.S. data sends mixed signals, but dollar remains the currency of choice. Currency data out of the U.S. was mixed for the month of November. However, this didn't stop the Greenback from strengthening against most of the major currencies. As the price of oil continues to drop, the U.S. economy will continue to benefit. Cheaper oil is good news for the American economy on so many grounds. It reduces the trade deficit, underpinning the rise of the dollar. It drastically reduces the cost of fuel for automobiles, trucks and airplanes and widens the profit margins of any manufacturer needing to use petroleum additives in its product processing.Of course, there are downsides for the economy with cheap oil prices, but they are being outweighed by the benefits.The pound continued its downward trend against the dollar in November. The good news is the losses were nowhere near the levels we saw in October.Weak Q3 financial data and the rise of the dollar has hurt the pound in recent months. The UK economy did grow a respectable 0.7% in Q3, however, fell short of the 0.9% growth gain in Q2.Last week, Bank of England Governor, Mark Carney, testified before Parliament's Treasury Committee. He suggestedthat inflation is weakening in the UK. Because of this, a rate hike is not imminent, as weaker inflation has given the Bank some breathing room to delay a rate move. This is another reason why the pound is soft at the moment.Recent surveys show the euro zone economy may face another contraction after business activity grew less than expected in November, despite heavy discounting.Firms across the euro zone cut prices again. Because of the cut prices and signs that the bloc's core economies are struggling, concerns will grow among the European Central Bank, which has launched a raft of measures to revive growth and drive up dangerously low inflation. The EUR/USD pairing is currently at its lowest level for more than two years. The surprise of the month was unemployment claims in the U.S. jumping slightly by 21,000 since October to 313,000. This is the first time the figure has surpassed the 300,000 mark in three months. This negative data was overshadowed by new home sales rising for the third straight month, GDP (growth) for Q3 coming in at 3.9% and manufacturing numbers also heading in the right direction.
Create Your Free Infographic!