Source: US Department of Labor US jobless claims fell by 9,000 to 376,000 for the week that ended on June 5. DXY is down 0.07%, SPY is up 0.65%, QQQ is up 0.98% The jobless claims are now at the lowest level since March 14, 2020. On a 4-week moving average, jobless claims fell by 25,500 to hit 402,500. The claims were the lowest since March 14, 2020Continuing … [Read more...] about Jobless Claims Slip by 9,000 to Maintain Levels Below 400,000
Forex News
ECB Stands Pat on Policy Rates and Bond Buying Program
Source: CNBC The European Central Bank kept its policy rates steady on Thursday as it maintained that the uptick in inflation is transitory. The ECB left its ultra-low interest rates unchanged -- the headline eurozone rate at 0% and deposit rate at -0.5%.It maintained its 1.85-trillion euro bond-buying program until March 2022 under the Pandemic Emergency Purchase Program … [Read more...] about ECB Stands Pat on Policy Rates and Bond Buying Program
What Investors Are Looking Out For in British Stocks
Source: Reuters International investors have returned to U.K stocks which are now the most overweight in seven years. Investors are looking at a slew of data to decide on which stocks to pick after exiting the market during the Brexit referendum in 2016.Traffic congestion data could drive a boom in stocks related to retail, and beverage.Consumer behavior data will … [Read more...] about What Investors Are Looking Out For in British Stocks
U.S. Wage Gains Fan Inflation Worries
Source: Bloomberg, Average hourly wages came higher than expected for the second straight month in May to spur inflationary concerns, Bloomberg reported. The latest wage figures raise the possibility of a wage-price spiral as higher wages drive more spending growth. This then hits production and hikes business costs.Average hourly earnings stood at $30.33 in May … [Read more...] about U.S. Wage Gains Fan Inflation Worries
Mortgage Applications Down for Third Straight Week
Source: Mortgage Bankers Association Mortgage loan applications declined further last week, as fewer homeowners had the capacity to avail of the lower rates. The Market Composite Index fell 3.1% in the week ending June 4 versus the previous one. This is the third consecutive week of declines since May 26.The unadjusted Market Composite Index declined 13% … [Read more...] about Mortgage Applications Down for Third Straight Week
