Europeans were more optimistic about both the economy and employment as sentiment grew above average in May, the European Commission reported. The Economic Sentiment Indicator (ESI) gained 4.0 to hit 113.9 in the European Union and 114.5 in the Euro area.The latest figures are above the long-term average and pre-pandemic level, hitting close to the peak recorded in … [Read more...] about European Sentiment on the Economy and Employment Are Hovering 2017 Highs
USD/CAD Struggling for Direction at 3-Year Lows as Gold Get Rejected Above $1900
USD/CAD bounce back from three-year lows is stalling amid dollar weakness and resilient CAD.Gold is under pressure after a recent spike to four-month highs above $1900.US equity indices have turned bullish amid easing inflation concerns. USD/CAD bounce back from three-year lows is experiencing some resistance amid broader US dollar weakness and a softer tone around oil … [Read more...] about USD/CAD Struggling for Direction at 3-Year Lows as Gold Get Rejected Above $1900
American Manufactured Goods Orders Down to 12-Month Low in April
U.S. orders for manufactured durable goods in April fell to $246.2 billion in April to mark the first decline in 12 months, the Census Bureau reported. The latest figure reflects a 1.3% or $3.2 billion decline following the 1.3% increase in March.The decrease was led by orders for transportation equipment which fell by 6.7% or $4.9 billion to $68.9 billion, marking the … [Read more...] about American Manufactured Goods Orders Down to 12-Month Low in April
U.S. First-Quarter Economic Growth Retained at 6.4%
The U.S. economic growth was retained at 6.4% in the first quarter of the year, according to the second estimate released by the Commerce Department. Upward revisions were made to the initial estimate in terms of consumer spending and nonresidential fixed investment.These were offset by downward revisions to exports and private inventory investment.At 6.4%, the growth in … [Read more...] about U.S. First-Quarter Economic Growth Retained at 6.4%
U.S. Unemployment Claims Hit Pandemic-Low For Seventh Week
Jobless claims in the United States hit a pandemic-low for the seventh straight week, according to data released by the Labor Department. Seasonally adjusted initial claims dropped 38,000 to 406,000 in the week ending May 22. This is the lowest since March 14, 2020's 256,000.The previous week's jobless claims figure was retained at 444,000.The four-week moving average fell … [Read more...] about U.S. Unemployment Claims Hit Pandemic-Low For Seventh Week
