Personal income in the United States fell by $3.21 trillion in April as the government released less social benefits during the month, the Department of Commerce reported. Personal income fell 13.1% month-on-month in April after recording a 20.9% growth in March.Disposable personal income dropped 14.6% or $3.22 trillion after March's 23.4% increase.Economic stimulus released … [Read more...] about Personal Income Down 13.1% in April as Less Social Benefits Released. Spending Posts Modest Growth
Forex News
Turkish Lira Plunges To Record Low as Policy Rates Are ‘Not Tight Enough’ to Curb Inflation
The Turkish lira plunged to a record low against its U.S. counterpart as key policy rates were kept unchanged even as inflation continued to climb. The lira dropped as much as 1.1% to 8.5981 per dollar, set to mark its third daily decline for the week.Traders said the losses were compounded as local accounts stocked on the greenback for foreign-currency debt … [Read more...] about Turkish Lira Plunges To Record Low as Policy Rates Are ‘Not Tight Enough’ to Curb Inflation
Japan’s Kuroda Adds Voice to Central Bankers Apprehensive of Bitcoin
Bank of Japan Governor Haruhiko Kuroda in an interview flagged the use of Bitcoin which he said is barely for settlement. Central banker has voiced concerns on Bitcoin and its volatility adding to a list of officials apprehensive of the crypto space. Kuroda called most of the trading "speculative" and the volatility "extraordinarily high."The governor differentiated … [Read more...] about Japan’s Kuroda Adds Voice to Central Bankers Apprehensive of Bitcoin
European Sentiment on the Economy and Employment Are Hovering 2017 Highs
Europeans were more optimistic about both the economy and employment as sentiment grew above average in May, the European Commission reported. The Economic Sentiment Indicator (ESI) gained 4.0 to hit 113.9 in the European Union and 114.5 in the Euro area.The latest figures are above the long-term average and pre-pandemic level, hitting close to the peak recorded in … [Read more...] about European Sentiment on the Economy and Employment Are Hovering 2017 Highs
USD/CAD Struggling for Direction at 3-Year Lows as Gold Get Rejected Above $1900
USD/CAD bounce back from three-year lows is stalling amid dollar weakness and resilient CAD.Gold is under pressure after a recent spike to four-month highs above $1900.US equity indices have turned bullish amid easing inflation concerns. USD/CAD bounce back from three-year lows is experiencing some resistance amid broader US dollar weakness and a softer tone around oil … [Read more...] about USD/CAD Struggling for Direction at 3-Year Lows as Gold Get Rejected Above $1900
