Author: FX
The EUR/GBP extended losses for the third day in a row, although it remains trapped within a tight range, roughly between 0.8700 and 0.8740, in the aftermath of a series of downbeat manufacturing activity data releases in the Eurozone and the UK.Eurozone’s final HCOB Manufacturing PMI revealed that the sector’s activity contracted at a faster-than-expected pace in December. The final reading has been revised to 48.8 from the preliminary estimation of 49.2 in December. These figures follow a 49.6 reading seen in November and the 50.0 in October, and highlight a declining contribution of manufacturing activity in the region’s GDP.German…
Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $74.51 per troy ounce, up 4.07% from the $71.59 it cost on Thursday.Silver prices have increased by 4.82% since the beginning of the year.Unit measureSilver Price Today in USDTroy Ounce74.511 Gram2.40The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 58.89 on Friday, down from 60.32 on Thursday. Silver FAQs Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange.…
There is a slight negative revision but it still marks an improvement to November, as the UK manufacturing recovery continues at end of 2025. Of note, both output and new orders nudged higher in helping to see the headline reading post a 15-month high. So, that’s a positive signal at least. However, there was a mild increase in price pressures as input cost inflation accelerated and output charges rose after declining in November. S&P Global notes that:“Further signs of growth emanated from the UK manufacturing sector before the turn of the year. Output rose for the third successive month and…
Euro area manufacturing activity slumped in December with the headline reading being a 9-month low amid a fresh decline in output. Demand conditions are showing renewed weakness with new orders falling at the quickest pace in almost a year. Overall business optimism is still being retained with the contraction here being a relatively mild one at least. We’ll have to see how things go at the start of 2026 to be sure of the trend for the economy next.On the inflation front, there is a bit of a hiccup with the rate of input cost inflation nudging up to a…
The headline reading is a 10-month low as a drop in demand conditions sees German manufacturing activity slump in the final month of last year. Of note, manufacturing output slid into contraction territory for the first time in ten months amid falling export sales. And that led to deeper cuts to employment, purchasing and stocks of inputs.Meanwhile, price pressures remain sticky as goods producers reported a rise in average input prices for the first time in almost three years in December. And panel members also noted that metals were a key driver of cost inflation. So, that’s something to take…
The final estimate is little changed from the preliminary reading as France’s manufacturing sector saw a modest jump in activity to round off the 2025 year. A strong rise in new export orders was the key reason in underpinning sentiment while employment conditions also returned to growth on the month. Meanwhile, output volumes also came close to stabilising after November’s sharp and accelerated contraction. HCOB notes that:”2025 closes on a surprisingly upbeat note. Business conditions in France’s manufacturing sector improved in December, with the PMI climbing back above the growth threshold to reach its highest level in three-and-a-half years. While…
A fresh drop in output and new orders mark a setback for Italy’s manufacturing sector in December. The good news at least is that cost pressures were seen easing but employment conditions also suffered on the month. On the latter, manufacturers made further cutbacks to their workforce numbers, signalling a full quarter of job shedding. Tough. HCOB notes that:“The year concluded with Italian manufacturing sliding back into contraction, as the HCOB Manufacturing PMI fell to 47.9 in December, down sharply from November’s 50.6. The latest reading marks the steepest deterioration in operating conditions since March, abruptly ending the brief growth…
Spain’s manufacturing sector slid back into contraction territory for the first time since April amid falls in both output and new orders. Softer demand conditions are to blame but manufacturers also chose not to renew temporary labour contracts, resulting in the biggest monthly fall in employment for two years. HCOB notes that:“Spain’s manufacturing sector saw an unexpected setback in December. Both output and new orders slipped below the growth threshold for the first time since spring. This signifies a shift after a period of steady resilience, suggesting that underlying downward pressures may finally be catching up. Despite this pullback, the…
The Fed might be headed for a more dovish shift in 2026 but Treasury yields may stay underpinned regardless. And that’s not a good recipe for risk trades, even if the early positioning flows today might point to a more optimistic picture for equities to start the year. As much as stocks are hoping for another rip higher, the bond market is one to keep an eye out for just in case.So far today, 10-year yields are shooting higher to around 4.18% currently. The high earlier touched 4.195% and that comes close to testing the crucial 4.20% mark – one…
Prior +0.3%House prices +0.6% vs +1.2% y/y expectedPrior +1.8%It’s a soft end to the year with the average house price ending at £271,068 for December. But overall, UK housing market activity has remained resilient all through 2025. One has to remember that household and consumer sentiment in the UK has been relatively subdued for much of the year and that is not to mention that mortgage rates are also still holding well above the Covid pandemic lows.Nationwide notes that:”House prices evolved broadly in line with our expectations. Annual price growth slowed steadily from 4.7% at the end of 2024 to…