The U.S. dollar strengthened against major currencies with the index up to a four-month high on the back of the vaccination rollout and another major stimulus. The dollar index grew above the 93 mark and was last up by around a third of a percent to a four-month high of 93.185. The greenback also rose above 110 yen, a level not seen since March 2020.The dollar is on track … [Read more...] about Dollar Climbs to Four-Month High on Vaccination Rollout, Infrastructure Stimulus
Forex News
U.S. Yields Jump To 14-Month Highs
U.S. 10-year Treasury yields climbed up to 1.77% on Tuesday, on the back of optimism about the economic recovery amid COVID-19 vaccine rollouts and planned infrastructure spending, CNBC reported. The 10-year Treasury yields jumped to 1.76% at 7:23 a.m. ET, after topping at 1.7% earlier in the session. This is the first time trading has reached such a level since January … [Read more...] about U.S. Yields Jump To 14-Month Highs
Consumer Spending, Personal Income Decline In February As Social Benefits Drop
Consumer spending and personal income both reported drops in February as financial relief declined sharply during the month, the Commerce Department reported. Personal income fell $1,516.6 billion or 7.1%; disposable personal income (DPI) dropped $1,532.3 or 8.0%. Real DPI decreased 8.2%. Meanwhile, personal consumption expenditures (PCE) declined $149.0 billion or … [Read more...] about Consumer Spending, Personal Income Decline In February As Social Benefits Drop
U.S. Unemployment Claims Fall To Lowest Since Coronavirus Pandemic
Unemployment insurance claims fell in late March to the lowest level since the pandemic hit, according to data released by the Department of Labor. Initial claims fell to 684,000 in the week ending March 20, down 97,000 from the previous week's revised level of 781,000. The latest reading is the lowest since claims were at 282,000 on the week of March 14, 2020. The … [Read more...] about U.S. Unemployment Claims Fall To Lowest Since Coronavirus Pandemic
US: Capacity Pressures Constrain Output as New Order Expands Fastest in 6.5 Years
U.S Composite Output Index slipped to a 2-month low of 59.1 in March, down from February’s 59.5, according to IHS Markit press release. The index signaled the second-fastest private sector upturn for six years. Flash Services Business Activity Index hit an 80-month high of 60.0, up from 59.8 in FebruaryFlash Manufacturing PMI reached a 2-month high of 59.0, up from … [Read more...] about US: Capacity Pressures Constrain Output as New Order Expands Fastest in 6.5 Years
