Source: Department of Labor American unemployment claims fell further to mark the lowest level since the COVID-19 pandemic hit for the third straight week. Seasonally adjusted initial claims for the week ending October 23 fell by 10,000 to 281,000 from 291,000 the previous week.The latest reading is the lowest for initial claims since March 14, 2020, when the level stood … [Read more...] about US Jobless Claims Hit Pandemic-Low for Third Straight Week
Forex News
US GDP Growth Cools to 2.0% on Lower Personal Spending
Source: Bureau of Economic Analysis American economic growth slowed to its lowest level in five quarters during the July to September period, dragged mainly by personal spending. The real gross domestic product grew by 2.0% in the third quarter, following the 6.7% the previous quarter.The latest reading is the slowest since GDP slipped into negative territory in the … [Read more...] about US GDP Growth Cools to 2.0% on Lower Personal Spending
Economic Sentiment in Eurozone Hits Two-Year High, EU at Eight-Month High
Source: European Commission Economic sentiment in both the Eurozone and the European Union hit historic highs in October, driven mainly by growth in services, construction, and retail. EZU is up 0.06% premarket. The Economic Sentiment Indicator in the EU climbed by 1.0 point to 117.6, the highest reading in eight months since February.Sentiment in the Eurozone gained 0.8 … [Read more...] about Economic Sentiment in Eurozone Hits Two-Year High, EU at Eight-Month High
US Congress Seek to Revamp Biden’s Tax Proposals in the Social Spending Bill
Source: Bloomberg Joe Biden’s tax plan is getting an overhaul as the Democrats push for a suitable proposal that can receive wider Congress support. SPY is up +0.17% on pre-market, DXY is up +0.11%. The Democrats will reportedly retain most of the Trump’s administration’s 2017 tax cuts, but corporations will get a new minimum levy, following deliberations by House … [Read more...] about US Congress Seek to Revamp Biden’s Tax Proposals in the Social Spending Bill
USDJPY Forecast as Divergence Between Fed and BOJ Widens
The USDJPY pair was little changed on Thursday morning after the latest Bank of Japan (BOJ) interest rate decision. Investors are also eyeing the upcoming election in the country. It is trading at 113.65, which is about 0.95% below the highest level this month. BOJ decision The USDJPY has been in a bullish momentum in October as investors bet on the divergence between the … [Read more...] about USDJPY Forecast as Divergence Between Fed and BOJ Widens
