US dollar remains under pressure after a recent spike to five-month highsUSDCAD has resumed its movement to the downside amid renewed CAD strengthTurkish Lira is strengthening across the board on improved Turkey economic outlookUS indices turned bullish on Biden Administration inking a bipartisan infrastructure deal The US dollar is struggling for direction near multi-month … [Read more...] about USDCAD Under Pressure Ahead of Inflation Data as US Indices Power to Record Highs
Forex News
Nevada, Utah, New Hampshire Lead US Economic Growth
Source: Bureau of Economic Analysis Nevada posted the biggest economic growth among all the states of the U.S. in the first three months of 2021. Real gross domestic product grew by 10.9% in Nevada, faster than the 2.7% in the fourth quarter and -4.9% in the first quarter of 2020.Utah's growth came second with 2.9%, from 7.1% the previous quarter and -3.9% in the first … [Read more...] about Nevada, Utah, New Hampshire Lead US Economic Growth
Consumer Sentiment Index Rebounds to 85.5 in June
Source: University of Michigan Consumer sentiment rebounded in June, driven by improved economic prospects after a decline in May. The Index of Consumer Sentiment stood at 85.5 in June, up 3.1% from May's 82.9 and up 9.5% from June 2020's 78.1.The latest reading is the second-highest since the COVID-19 pandemic hit, behind April's 88.3.The June climb was driven by … [Read more...] about Consumer Sentiment Index Rebounds to 85.5 in June
S&P Affirms China’s ‘A+’ Rating. Growth to Continue Overtaking Peers
Source: S&P Global Ratings On Friday, global credit watcher S&P Global Ratings n Friday affirmed its credit ratings on China, citing the country's reform agenda and growth prospects. S&P affirmed its 'A+' long-term rating on China with a stable outlook, and the short-term sovereign credit rating at 'A-1.'The credit watcher believes China will maintain … [Read more...] about S&P Affirms China’s ‘A+’ Rating. Growth to Continue Overtaking Peers
US First-Quarter GDP Maintained at 6.4%
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%
