Source: US Labor Department American unemployment claims jumped back to the 400,000 level for the first time in three weeks. DXY is up 0.70%, Gold is down 1.71%. Seasonally adjusted initial claims for the week ending June 12. This is the highest since May 22's 405,000. The previous week's level was revised lower by 1,000 to 375,000 from 376,000.The four-week moving … [Read more...] about U.S. Jobless Claims Climb Back Above 400,000
Turkey Keeps Rate at 19% but Adopts Hawkish Stance
Source: Bloomberg The Central Bank of the Republic of Turkey on Thursday maintained policy rates, while shifting to a more hawkish stance. The Monetary Policy Committee left the benchmark interest rate at 19% for the third consecutive month, in line with market expectations.The central bank said it wills current "tight" policy stance will continue to be maintained … [Read more...] about Turkey Keeps Rate at 19% but Adopts Hawkish Stance
Rate Hike Expectations Drag Global Markets
Source: WSJ A number of stock markets across the globe retreated on Thursday, dragged by remarks of Federal Reserve officials hinting a possible rate hike in 2023. Declines were recorded on futures linked to the S&P 500, Nasdaq 100, and Dow Jones Industrial Average.Retreats were noted in most overseas markets -- the Stoxx Europe 600, Japan's Nikkei 225, South Korea's … [Read more...] about Rate Hike Expectations Drag Global Markets
Unemployment Rate in Hong Kong Falls for the third month to 6% in May
Source: Bloomberg Unemployment rate in Hong Kong fell to 6% in May, signaling the city’s likely step out from lengthy inflation. USDHKD is up 0.02% The 6% rate came below a consensus forecast of 6.2%.Unemployment rate came down for three months in a row, this was last witnessed in March 2011 when the rate fell for 5 consecutive months from November 2010.Number of … [Read more...] about Unemployment Rate in Hong Kong Falls for the third month to 6% in May
China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
Source: Bloomberg Continued trade wars between the US and China is costing global value chains about 3-5 years of growth. SPY is down -0.56%, CSI 300 is up +0.42%, USDCNY is up +0.61% The report by the United Nations Development Programme pokes holes on economic recovery in China and the Asia-Pacific region following trade wars. UNDP says the absence of … [Read more...] about China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
