The U.S. The Senate voted to progress an infrastructure bill on Wednesday, a right step to the advancement of the Democrat's economic agenda. The vote puts up the bill for debate, which once through, will put $550 billion to transportation, broadband, and utilities.The proposed amount was reduced from $ 579 billion amidst disputes between the democrats and republicans … [Read more...] about U.S. Senate Advances Infrastructure Bill As Democrats Push A Bullish Economic Agenda
Forex News
AUD Analysis: Glimpses of Strength, Although Seem Short-Lived
Rising Covid-19 cases leading to new economic restrictions in Australia.Uncertainties in trade relations with China to influence AUD.The US economy plays a meaningful but slightly lesser role in influencing AUDUSD prices. The Fed's reluctance and good Australian inflation data combine to strengthen AUD AUDUSD was trading at 0.74006 at 0937 GMT on Thursday, building from … [Read more...] about AUD Analysis: Glimpses of Strength, Although Seem Short-Lived
Economic Recovery Puts Real GDP at 6.5% Growth, an Uptick from the Last Quarter
Source: Bureau of Economic Analysis US Gross Domestic Product increased at a 6.5% annual rate in the second quarter compared to 6.3% in the first quarter. SPY is up + 0.40%, DXY is down -0.34%. The current-dollar GDP rose 13% annual rate of $684.4 billion in the second quarter to level at $22.72 trillion.The price index for gross domestic purchases rose 5.7% in … [Read more...] about Economic Recovery Puts Real GDP at 6.5% Growth, an Uptick from the Last Quarter
US Jobless Claims Drops 24,000 To 400,000 As Economy Rebounds
Source: US Department of Labor. Weekly jobless claims decreased by 24,000 to 400,000 from the upwardly revised 424,000 in the previous period. DJI down -0.36%, EURUSD up +0.31% The seasonally adjusted insured employment rate remained unchanged from previous week’s unrevised rate at 2.4%. The advanced number of insured unemployment rate for the week ended July … [Read more...] about US Jobless Claims Drops 24,000 To 400,000 As Economy Rebounds
Dovish Fed Upbeat About Economic Recovery Despite Surge in Coronavirus Cases
Source: The Federal Reserve The Federal Reserve chose to keep interest rates and bond-buying unchanged but remained optimistic the economic recovery is on track despite the rise in the Covid cases. SPY is up +0.21% on premarket, DXY is down -0.25%. The Fed said it would reduce the $120 billion in monthly bond purchases once it sees strong payroll numbers, saying the … [Read more...] about Dovish Fed Upbeat About Economic Recovery Despite Surge in Coronavirus Cases
