A strong US jobs data and increased confidence in a looming tapering favor the USD.Australian lockdowns and declining iron ore prices eat up the economy as AUD struggles.China CPI data may define AUD, but the odds are slim. The US dollar was marginally down against the Australian dollar, going at $0.73448, at 1134 GMT on Tuesday, as the market continues to respond to strong … [Read more...] about AUDUSD Outlook: The Aussie Hanging by a Thread As USD Strengthens on Strong Jobs Data
Forex News
Nonfarm Business Labor Productivity Growth Cools in Second Quarter
Source: Bureau of Labor Statistics Nonfarm business sector labor productivity continued to grow in the second quarter as output and hours worked increased, albeit at a slower pace than the previous quarter. Nonfarm business sector labor productivity grew by 2.3% quarter-on-quarter. This is slower than the 4.3% recorded in the first quarter.Output increased by 7.9%, while … [Read more...] about Nonfarm Business Labor Productivity Growth Cools in Second Quarter
Business Optimism Falls in July. June Gains Nearly Erased
Source: NFIB Small business optimism declined in July, wiping out nearly all of the gains recorded the previous month. The Optimism Index fell by 2.8 points to 99.7 in July, reversing almost the entire 2.9-point gain in June.The latest reading compares with 102.5 in June and 98.8 in July 2020.Decreases were seen in plans to increase employment, increase inventories, … [Read more...] about Business Optimism Falls in July. June Gains Nearly Erased
German Investor Confidence Slips for Third Straight Month
Source: Bloomberg German investor confidence declined for the third straight month in August to mark the lowest reading since late 2020, according to the ZEW Economic Research Institute. The ZEW Economic Sentiment Index fell to 40.4 from 63.3 in July. ZEW President Achim Wambach warned of “increasing risks” as COVID-19 infection rates rise.Over half of Germany’s … [Read more...] about German Investor Confidence Slips for Third Straight Month
The Outlook on USD Strength Amid Changing Risk Sentiment
You want to pay attention to the US dollar in the week ahead, as the reserve currency closed the week with strength, catalyzed by positive US economic data. Technically the USD also looks attractive. The strength of the greenback made risk-on currencies close the week negative. However, most stock indices still managed to end the week positive, including being wrecked … [Read more...] about The Outlook on USD Strength Amid Changing Risk Sentiment
