Source: CNN Most Americans continue to park the last rounds of economic stimulus they received in banks. Bank of America Chief Executive Officer Brian Moynihan said most clients of the bank have not yet spent about 65% to 70% of the most recent stimulus paychecks.The United States released $804 billion to individuals and families classified as low and middle income … [Read more...] about Americans Are Still Holding on to Their Stimulus Paychecks – BoA
Forex News
U.S Cuts Trade Deficit by $6.1 Billion in April
Source: Bureau of Economic Analysis U.S narrowed its international trade deficit to $68.9 billion in April, from $75 billion in March. DXY reacts to news +0.10%, SPY sheds -0.11%. U.S exports in April jumped by $2.3 billion from March to reach $205.0 billion. Imports in April slipped by $3.8 billion from March to $273.9 billion in April. Overall year to date … [Read more...] about U.S Cuts Trade Deficit by $6.1 Billion in April
Will Commodity Markets See a Return of $100 Oil? Option Traders Keep Bets
Source. WSJ Owners of $100 options are betting that oil prices will hit $100 a barrel towards the end of the year. CL! is down 0.26%. Having seen oil surge at least 40% this year, the option traders see it gaining momentum as coronavirus restrictions are loosened. A price of $100 in prices will see oil reach a milestone hit in 2014. Analysts have cautioned … [Read more...] about Will Commodity Markets See a Return of $100 Oil? Option Traders Keep Bets
Consumer Borrowing Jumps 5.3% in April, a Third Consecutive Monthly Gain
Source: The Federal Reserve U.S consumer credit rose at an annual rate of 5.3% or $18.6 billion in April. The surge was fueled by strong trends in auto loans and students’ loans. DJI is down 0.36%, SPX is down 0.08%, DXY is up 0.18% Revolving credit, that includes credit cards declined 2.4%, after rising by 1.7% in March Non-revolving credit, consisting of student … [Read more...] about Consumer Borrowing Jumps 5.3% in April, a Third Consecutive Monthly Gain
EUR/USD Outlook Ahead of ECB Decision and US Inflation Data
This week, the EUR/USD will be in the spotlight as investors react to the upcoming EU GDP data, European Central Bank (ECB) decision, and the latest American inflation data. It is trading at 1.2166, almost unchanged from its close on Friday. ECB interest rate decision The ECB will start its monthly meeting on Wednesday and then publish its interest rate decision on … [Read more...] about EUR/USD Outlook Ahead of ECB Decision and US Inflation Data
