Source: Bloomberg Gold prices fell on early Monday trading, as investors considered the possible tapering down of monetary stimulus by the US Federal Reserve. Spot bullion fell over 4% or $60 in a matter of minutes before paring down losses.The initial drop tapered down, with the bullion down 1% to $1,745.31 an ounce by 12:20 p.m.Prices are still hovering among four-month … [Read more...] about Gold Strained by Concerns of Scaled-Down Monetary Stimulus
Forex News
Nonfarm Payroll Growth Posts 11-Month High. Unemployment Rate down to 5.4%
Source: Bureau of Labor Statistics Non-farm payrolls recorded the biggest growth in nearly a year in July, driven mainly by gains in leisure and hospitality segments. Total nonfarm payroll employment climbed by 943,000. This is the highest since the 2 million in August 2020.The unemployment rate eased by 0.5 percentage points to 5.4%, while unemployed individuals fell by … [Read more...] about Nonfarm Payroll Growth Posts 11-Month High. Unemployment Rate down to 5.4%
UK Housing Price Growth Cools to Four-Month Low in July
Source: Halifax House prices in the United Kingdom posted a slight rebound in July, but pointed to a cooling market as annual growth fell to the lowest level in four months. Average house prices stood at £261,221, up from £260,099 in June and £242,684 in July 2020.The latest reading indicates a 0.4% increase month-on-month, after the 0.6% decline recorded in June.Annual … [Read more...] about UK Housing Price Growth Cools to Four-Month Low in July
American Businesses Want to Restart US-China Trade Talks
Source: WSJ Over 30 influential American business groups called on the government to restart trade talks with China, seeking lower tariffs on imports which hamper economic growth. The business groups proposed in a letter addressed to US Trade Representative Katherine Tai and Treasury Secretary Janet Yellen.The firms believe China has already complied with benchmarks and … [Read more...] about American Businesses Want to Restart US-China Trade Talks
USDCAD: Trade Surplus Boosts the Loonie as US COVID-19 Cases Surge
US trade balance (deficit) for June 2021 rose 6.62% (MoM) to -$75.70 billion from a previous record of -$71.00 billion. Canada’s exports jumped 8.74% to C$53.76 in June 2021, causing the trade balance to rise to C$3.23 billion. As of August 4, 2021, new Covid-19 cases in the US had risen to 112,270, the sharpest rise since April 15, 2021. The USDCAD pair lost 0.42% … [Read more...] about USDCAD: Trade Surplus Boosts the Loonie as US COVID-19 Cases Surge
