Source: Bloomberg Turkey's lira strengthened on Thursday to its best showing in a month after a top official welcomed a possible resolution to the conflict with the United States. The lira strengthened by as much as 1.7% to hit 8.2860 against the greenback.Weekly gains rose to 4.4% to mark the best weekly performance since March but lost ground later.Defense Minister … [Read more...] about Turkish Lira Advances on Hopes of Missile Spat Resolution
Forex News
U.K. Economy Hits Nine-Month High in April
Source: Office for National Statistics The United Kingdom gross domestic product posted a nine-month high in April, as more businesses reopened amid the easing of government restrictions due to the COVID-19 pandemic. GDP grew by 2.4% in April to mark the fastest monthly growth since July 2020.Services climbed 3.4% on the back of the 12.7% growth in consumer facing … [Read more...] about U.K. Economy Hits Nine-Month High in April
Inflation Zooms to Highest in Nearly 13 Years
Source: US Labor Department U.S. headline inflation accelerated to 5% in May to reach its highest level in over 12 years. The all items index recorded its biggest year-on-year growth since inflation clocked in at 5.4% in August 2008.Inflation has been on an uptrend since January's reading of 1.4%.Core inflation for the month came in at 3.8%, the highest in 28 years since … [Read more...] about Inflation Zooms to Highest in Nearly 13 Years
Jobless Claims Slip by 9,000 to Maintain Levels Below 400,000
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
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
