Source: Census Bureau US retail and food services sales rose by 0.6% in June to reach $621.3 billion, higher than expected 0.4% increase as spending shifted to the services sector. SPY is up +0.25%, DXY is up +0.09%. The retail sales were 18.0% higher than a similar month of last year.Retail sales for April through June this year were 31.5% higher than a similar … [Read more...] about Retail Sales Surpass Estimates to Jump by 0.6% in June
Forex News
Investors Push US Futures Higher as they Wait for Earnings, More Stimulus Push
Investors pushed futures on the benchmark S&P 500 higher by 0.16% on Friday as they digested comments by Fed’s Jerome Powell on further economic support. S&P 500 is down -0.33%, DJI is up +0.15%, CSI 300 is down -1.10%, Euro Stoxx is down -0.14%. Nasdaq 100 futures were up 0.16% as Dow Jones futures ticked higher by 0.18% The uptick in futures happens amid … [Read more...] about Investors Push US Futures Higher as they Wait for Earnings, More Stimulus Push
Hopes of Xi-Biden Meeting Ignite With Wendy Sherman Visit to China
Source: Yahoo! A potential meeting between US President Joe Biden and his Chinese counterpart Xi Jinping could be a step closer to reality, with a senior American official set to fly to China next week. Deputy Secretary of State Wendy Sherman will fly to Tianjin and meet with China’s Foreign Vice Minister Xie Feng, their first physical meeting since their exchange in … [Read more...] about Hopes of Xi-Biden Meeting Ignite With Wendy Sherman Visit to China
Manufacturing Output Growth Drops to Seven-Month Low
Source: Federal Reserve Bank Philadelphia The expansion of the manufacturing output weakened to a seven-month low in July. The majority of the firms reporting either no change or decreases in their activity in the survey. The diffusion index fell to 21.9 in July, versus June’s 30.7 and July 2020’s 24.1. This is the lowest since December 2020’s 11.1%.Majority or 51% of the … [Read more...] about Manufacturing Output Growth Drops to Seven-Month Low
American Unemployment Claims Fall to 16-Month Low
Source: US Labor Department US jobless claims fell to the lowest level since the COVID-19 pandemic first hit in March 2020. DXY is up 0.13%, Gold is down 0.18%. Seasonally adjusted claimed for the week ending July 10 fell 26,000 to 360,000. This is the lowest level since it stood at 256,000 on March 14, 2020.The previous week’s level was hiked by 13,000 to 386,000 from … [Read more...] about American Unemployment Claims Fall to 16-Month Low
