Forex News

U.S. consumer borrowing posted growth in February after remaining flat in the previous month, according to data released by the Federal Reserve. Consumer credit grew by 7.9% in February, versus flat in January and 2.6% in December 2020.Total credit rose to $4.2058 trillion from $4.178 trillion the previous month. Year-on-year, revolving credit climbed 10.1% to $974.4 … [Read more...] about U.S. Consumer Credit Grows 7.9% In February

U.S. unemployment claims totaled 744,000 last week to surpass market expectations, data from the Department of Labor showed. The latest figure reflects an increase of 16,000 in the week ending April 3 from the previous week's revised level of 728,000. Economists surveyed by the Dow Jones expected 694,000.Initial claims under state programs totaled 740,787 in the same week, … [Read more...] about More Americans Filed Jobless Claims Than Expected

RBI has lowered its reverse repo rate from 7.9% in 2015 to 3.35% in 2020/21.India’s industrial expansion slowed 4.6% in February 2021. The US is planning to impose close to $100 million in retaliatory tariffs on India.    The USD/INR trading pair closed on a high of 73.8270 on April 6, 2021, after opening the trading day on a low of 73.2019. The dollar … [Read more...] about USD/INR: US Retaliatory Tariffs Poised to Help the Dollar Against the Rupee

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon believes the COVID-19 pandemic will end with a U.S. economic rebound that could last for over two years, Bloomberg reported. In his annual letter to shareholders, Dimon said the boom could easily run into 2023 on a successful vaccination program and the euphoria around the end of the pandemic.Other likely drivers … [Read more...] about JPMorgan’s Dimon Believes U.S. Economic Rebound Could Run Into 2023

Japanese households' expectations on inflation and the economy rose in March to show signs of healing from the COVID-19 pandemic, Reuters reported. Households expecting prices to rise in a year stood at 62.4% in March from 60% in December, according to results of a survey by the Bank of Japan.The diffusion index which measures households' confidence on the economy a year … [Read more...] about Japan Households’ Confidence Marks 8-Year High, Inflation Outlook Up In March