Source: Bureau of Labor Statistics US jobs climbed slower than expected in August, bringing growth to a seven-month low. Nonfarm payrolls grew 235,000 in August. This is up from 1.05 million in July and 962,000 in June.The biggest gains were seen in professional and business services, transportation and warehousing, private education, manufacturing, and other … [Read more...] about US Job Growth Cools to Seven-Month Low of 235,000
Forex News
US Trade Deficit Down to $70.1 Billion in July Amid Decline in Imports
Source: Bureau of Economic Analysis The United States’ trade deficit narrowed in July, as exports climbed while imports declined during the period. The goods and services deficit fell by 4.3% to $70.1 billion versus $73.2 billion the previous month.Exports climbed 1.3% to $212.8 billion. Goods exports jumped $2.7 billion to $148.6 billion, while services exports climbed … [Read more...] about US Trade Deficit Down to $70.1 Billion in July Amid Decline in Imports
American Unemployment Claims Carve New Pandemic-Low
Source: US Labor Department US jobless claims fell to the lowest level since the COVID-19 pandemic hit, nearing the 330,000 level for the first time in over a year. DXY is down 0.01%, while Gold is down 0.07%. Seasonally adjusted initial claims for the week ending August 28 declined by 14,000 to 340,000. This is the lowest since March 14, 2020’s 256,000.The previous … [Read more...] about American Unemployment Claims Carve New Pandemic-Low
Euro Banks Take Advantage of ECBs TLTROs, Amid Prolonged Negative Rates Warnings
Source: WSJ The European Central Bank is giving its banks incentives in the firm of liquidity pools to boost lending to cash-strapped businesses. DAX is up +0.11%, EURUSD is up +0.09%. Fig: Borrowings by ECB Banks Through the 2014 liquidity boosts known as targeted longer-term refinancing operations or TLTROs, ECB aims to boost lending to tackle a credit crunch … [Read more...] about Euro Banks Take Advantage of ECBs TLTROs, Amid Prolonged Negative Rates Warnings
Four Countries Make Pact to Test Cross-Border CBDC Transactions
Source: Markets Insider Central banks of four countries — Australia, Malaysia, Singapore, and South Africa — have agreed on a joint trial of central bank digital currencies capable of cross-border transactions. The partnership includes the Bank of International Settlements Innovation Hub and the Reserve Bank of Australia, Bank Negara Malaysia, Monetary Authority of … [Read more...] about Four Countries Make Pact to Test Cross-Border CBDC Transactions
