Source: Bloomberg The United States Senate approved a $550-billion infrastructure plan, making President Joe Biden’s economic agenda one step closer to realization. The measure recorded a bipartisan vote of 69-30, including 50 Democrats and 19 Republicans who voted in favor.The approval comes months after negotiations, Republican lawmakers forcing Democrats to exhaust … [Read more...] about Biden’s $550 Billion Infrastructure Plan Hurdles Senate
Forex News
CADCHF Analysis: Pair Inches Towards 0.7500 on Strong Employment Data
Canada’s employment rate rose 0.5% to 94,000, while the annual tally increased to 1,081,000 between July 2020 to July 2021. Switzerland has seen a sharp increase in new Covid-19 numbers from 0 on June 27, 2021, to 3,145 new cases on August 9, 2021. Canada’s trade balance is +C$3.2 billion, representing a surplus. The CADCHF pair gained 0.74% as of 1:30 … [Read more...] about CADCHF Analysis: Pair Inches Towards 0.7500 on Strong Employment Data
AUDUSD Outlook: The Aussie Hanging by a Thread As USD Strengthens on Strong Jobs Data
A strong US jobs data and increased confidence in a looming tapering favor the USD.Australian lockdowns and declining iron ore prices eat up the economy as AUD struggles.China CPI data may define AUD, but the odds are slim. The US dollar was marginally down against the Australian dollar, going at $0.73448, at 1134 GMT on Tuesday, as the market continues to respond to strong … [Read more...] about AUDUSD Outlook: The Aussie Hanging by a Thread As USD Strengthens on Strong Jobs Data
Nonfarm Business Labor Productivity Growth Cools in Second Quarter
Source: Bureau of Labor Statistics Nonfarm business sector labor productivity continued to grow in the second quarter as output and hours worked increased, albeit at a slower pace than the previous quarter. Nonfarm business sector labor productivity grew by 2.3% quarter-on-quarter. This is slower than the 4.3% recorded in the first quarter.Output increased by 7.9%, while … [Read more...] about Nonfarm Business Labor Productivity Growth Cools in Second Quarter
Business Optimism Falls in July. June Gains Nearly Erased
Source: NFIB Small business optimism declined in July, wiping out nearly all of the gains recorded the previous month. The Optimism Index fell by 2.8 points to 99.7 in July, reversing almost the entire 2.9-point gain in June.The latest reading compares with 102.5 in June and 98.8 in July 2020.Decreases were seen in plans to increase employment, increase inventories, … [Read more...] about Business Optimism Falls in July. June Gains Nearly Erased
