Forex News

Source: US Labor Department Unemployment claims in the United States posted a slight increase, reflecting the second straight week of increases. DXY is up 0.64%, while Gold is down 0.69%. Adjusted initial claims for the week ending May 7 stood at 203,000, reflecting a 1,000 increase from the previous week’s upward revised 202,000.The four-week moving average was recorded … [Read more...] about US Unemployment Claims Climb for Second Straight Week

Source: Bureau of Labor Statistics Producer inflation retreated in April, as lower prices were recorded in most of the sectors during the month. QQQ is down 1.32%, while SPY is down 0.84%. Producer inflation clocked in at 11.0%, lower than the 11.5% in March but higher than the 6.5% in April 2021.Total final demand increased by 0.5% versus the past month, slower than 1.6% … [Read more...] about US Producer Inflation Cools to 11.0%

Source: Office for National Statistics Economic growth in the United Kingdom contracted in March, dragged mainly by the services sector. EWU is down 0.72%, while VGK is down 2.23% premarket. The gross domestic product (GDP) slipped by 0.1% in March, following the flat performance recorded in February.Services contributed the most to the decline, reflecting a 0.2% drop … [Read more...] about UK GDP Falls 0.1% in March

Source: Office for National Statistics The trade in goods and services deficit, excluding precious metals, in the UK reached a record 25.2 billion pounds in the first quarter of 2022. The deficit was wider by 14.9 billion pounds. FTSE 100 is down -2.56%, GBPUSD is down -0.34%. The record trade deficit reflected a higher level of imports to the country. In March, imports … [Read more...] about UK Trade Deficit Widens by £14.9B to a Record Level in the First Quarter

Source: Business Insider The Japanese yen is an “ideal” hedge against the risk of a recession in the United States, given its weak performance against the greenback, according to analysts of Goldman Sachs. EWJ is up 0.24%, while BBJP is up 0.23%. Analysts led by Karen Reichgott Fishman believe that the yen is the cheapest safe-haven asset by far, given its historically … [Read more...] about Goldman Sachs Analysts Believe Yen ‘Ideal’ Hedge Against US Recession