Source: Bloomberg The payout cap on European banks could be lifted by the end of September should conditions remain stable, according to European Central Bank President Christine Lagarde. Lagarde said the European System Risk Board could allow the cap to lapse as the vaccination rollout has boosted the economic outlook and reduced the possibility of “severe scenarios.”The … [Read more...] about ECB to Lift Bank Dividend Limits by September
Forex News
Lumber Reverses From It’s All-Time High to Record a 40% Monthly Drop In June
Source: CNBC Lumber prices have plunged 40% in June, the worst monthly decline since 1978. The decline has elicited views that the mismatch between supply and demand was short-lived. LBS1! is down -5.90%. The decline in lumber prices came at the back of its all-time high of $1,670.50 per thousand board feet on May 7.Lumber is now down at least 18% this year and is … [Read more...] about Lumber Reverses From It’s All-Time High to Record a 40% Monthly Drop In June
UK First-Quarter GDP Revised Slightly Lower to -1.6%
Source: Office for National Statistics The United Kingdom's economic performance for the first three months of 2021 was revised slightly lower, with lockdown restrictions reimposed during the month. The first-quarter gross domestic product (GDP) was revised to -1.6%, slightly lower than the earlier estimate of -1.5%. The GDP level is now 8.8% lower than pre-pandemic … [Read more...] about UK First-Quarter GDP Revised Slightly Lower to -1.6%
U.S. Business and Consumer Activities Slips to the Four-Month Low
Source: mni Market News The Chicago Business Barometer fell to 66.1 in June following the decline in order backlogs with a slight improvement in supplier deliveries. DJI gains +0.37%. New orders slowed, dropping to a three-month low in June.The index improved to 73.00 in the second quarter, its highest position since 1938.Production level eased in quarter two to 67.9 with … [Read more...] about U.S. Business and Consumer Activities Slips to the Four-Month Low
US Private Sector Adds 692,000 Jobs in June on Robust Labor Market Recoveries
Source: ADP National Employment Report Employment in the US private sector rose by 692,000 in June from May. The job gains underlined robust recoveries in the labor market. SPY gains +0.11%, QQQ is down -0.068%, DXY is up +0.19% Large businesses added the most jobs in June at 240,000.Medium businesses generated 236,000 jobs, while small businesses added 215,000.By … [Read more...] about US Private Sector Adds 692,000 Jobs in June on Robust Labor Market Recoveries
