Source: US Bureau of Economic Analysis The United States' real gross domestic product (GDP) for the first quarter was maintained at 6.4%, as changes in investments were offset by adjustments in imports. The third estimate for the first-quarter economic growth stood at 6.4%, unchanged from the first two estimates. GDP grew by 4.3% in the fourth quarter of … [Read more...] about US First-Quarter GDP Maintained at 6.4%
Forex News
USD/TRY: Dollar Maintains Lead Ahead of Jobless Claims and GDP Report
Turkey’s construction index rose to 82.4 from a low of 79.6 but still denoted lower confidence among investors as it fell below 100. The sale of houses in Turkey fell 38.28%, from 95,863 in April 2021 to 59,166 in May 2021. US GDP may rise above 6.5% (QoQ) due to higher inflation numbers. The USD/TRY gained 0.42% on June 24, 2021, from the previous day's trading … [Read more...] about USD/TRY: Dollar Maintains Lead Ahead of Jobless Claims and GDP Report
Jobless Claims Remain Above 400,000 for Second Straight Week
Source: US Labor Department American unemployment claims recorded a decline in the third week of June, but continued to be above the 400,000 level. Seasonally adjusted initial claims for the week ending June 19 fell 7,000 week-on-week to 411,000. This compares with the 1.472 million claims in the week ending June 13, 2020.The previous week's level was revised higher by … [Read more...] about Jobless Claims Remain Above 400,000 for Second Straight Week
USD/ZAR Pair Loses on South Africa’s Inflation Data
SA’s CPI hit a 2.5 year high at 5.2% (YoY), moving above the 4.5% midpoint.New coronavirus cases in South Africa reached a 2-month high on June 21, 2021, at 9,160, with WHO planning to set up a vaccination hub in Africa.US mortgage applications increased 2.1% (Week-on-week) as well as refinancing. The USD/ZAR pair traded at a -0.43% price change on June 23, 2021, from the … [Read more...] about USD/ZAR Pair Loses on South Africa’s Inflation Data
US Private Sector Eases to a 2-Month Low. Manufacturing PMI on Record High
Source: IHS Markit US private sector expansion softened in June, with activity index hitting a 2-month low of 64.8, down from 70.4 in May. DXY is down -0.03%, SPY is up +0.054%, QQQ is up +0.15%. Overall, the Composite PMI Output Index fell from 68.7 in May to 63.9 in June as expansion continued, albeit at a slower rate.Manufacturing PMI hit a series record of 62.6 … [Read more...] about US Private Sector Eases to a 2-Month Low. Manufacturing PMI on Record High
