Source: US Labor Department Jobless claims in the United States retreated in the past week, following the increase recorded the week earlier. DXY is down 0.09%, while Gold is down 0.19%. Seasonally adjusted initial claims for the week ending May 21 stood at 210,000, reflecting an 8,000 decline from the past week’s unrevised 218,000.The four-week moving average climbed by … [Read more...] about US Unemployment Claims Retreat to 210,000
Forex News
US Downgrades First-Quarter Economic Performance
Source: Bureau of Economic Analysis The United States posted a bigger economic decline in the first quarter than earlier announced, reflecting revisions to downward revisions in private inventory investment and residential investment. QQQ is up 1.68%, while SPY is up 1.48%. The first-quarter real gross domestic product contracted by 1.5%, slightly weaker than the earlier … [Read more...] about US Downgrades First-Quarter Economic Performance
Fed Hints at Possible Pause of Tightening Later This Year
Source: Federal Reserve Officials of the Federal Reserve hinted at the possibility of a pause on policy tightening later this year to evaluate the impact of the latest moves. QQQ is up 0.36%, and SPY is up 0.65% premarket. Minutes of the latest Fed meeting indicated that officials found that an expedited tightening would bring the Fed “well-positioned” to look into the … [Read more...] about Fed Hints at Possible Pause of Tightening Later This Year
US Durable Goods Orders Rise by $1.2B in April
Source: Census Bureau The US recorded a total of $265.3 billion worth of durable goods orders in April, accelerating by 0.4% or $1.2 billion. The orders rose by 0.6% in March. SPY is up +0.46%, DXY is up +0.40%. The durable goods orders are estimated to have increased by 0.3%, excluding transportation. Transportation was the main driver of durable goods orders, with a … [Read more...] about US Durable Goods Orders Rise by $1.2B in April
Mortgage Applications Fall Further Despite Decline in Rates
Source: Mortgage Bankers Association Mortgage applications declined in the past week even as rates were slashed further, as the data from the Mortgage Bankers Association (MBA) showed. XHB is down 0.24%, while ITB is down 0.25%. The volume of mortgage loan applications slipped by 1.2% from the previous week on a seasonally adjusted basis and by 2% on an unadjusted … [Read more...] about Mortgage Applications Fall Further Despite Decline in Rates
