U.S retail sales for April 2021 stood at $619.9 billion, little changed from March, according to the Census Bureau press release. The stalled retail sales in April reflect fading boosts from stimulus checks which caused a 10.7% surge in the previous month. April’s retail sales were 51.2% higher than the comparable month of 2020February-April sales were up 27.1% from the … [Read more...] about U.S Retail Sales Stagnates in April after 10.7% Jump in March
Forex News
American Jobless Claims Fall To Pandemic-Low For Fifth Straight Week
Unemployment insurance claims hit a pandemic-low for the fifth straight week for the seven days ending in May 8, the Labor Department reported. Seasonally adjusted initial claims fell 34,000 to 473,000 in the week ending May 8 to mark the lowest since March 14, 2020's 256,000.The previous week's jobless claims was revised 9,000 higher to 507,000 from 498,000 earlier … [Read more...] about American Jobless Claims Fall To Pandemic-Low For Fifth Straight Week
EUR/JPY Rallies to 2-Year Highs as Indices Sell-off Persists
The euro continues to strengthen across the board, supported by an improved EU economic outlook.The Chinese yuan continues to gain ground against the dollar amid optimism about the Chinese economy's health and outlook.US indices remain on edge amid inflation jitters which could cause the FED to alter monetary policies.Bitcoin is in consolidation mode, opting to trade in a range … [Read more...] about EUR/JPY Rallies to 2-Year Highs as Indices Sell-off Persists
Inflation Climbs to 12-Year High of 4.2%
Inflation accelerated 4.2% in April to mark the fastest pace in over 12 years, the Labor Department reported. The latest inflation print is the largest since September 2008's 4.9%. This compares with 2.6% in March.Month-on-month, the headline inflation grew 0.8% after the 0.6% climb in March.Core inflation rose 0.9% to mark the largest monthly increase in decades since … [Read more...] about Inflation Climbs to 12-Year High of 4.2%
American Equity Futures Tumble As Inflation Figures Spur Concerns On Recovery
Equity futures in the United States continued their downtrend as the higher-than-expected inflation figures raised recovery concerns. Futures on three indexes extended their losses -- the S&P 500 by 0.7%, the Nasdaq 100 by 1.3%, and the Dow Jones Industrial Average by 0.4%.American consumer prices rose 4.2% year-on-year in April. Month-on-month, the headline CPI grew … [Read more...] about American Equity Futures Tumble As Inflation Figures Spur Concerns On Recovery
