Nonfarm payrolls in the United States grew by 379,000 in February to bring the unemployment rate down to 6.2%, the Labor Department reported. The latest readings compare with market expectations of 210,000 new jobs and unemployment rate of 6.3%.The number of employed Americans fell 8.5 million from a year ago. The labor force increased by 50,000 but the participation rate … [Read more...] about U.S. Logs 379,000 Additional Jobs in February as Lockdown Restrictions Ease
Forex News
Oil Prices Surge 2% as OPEC+ Extends Output Cuts
Oil prices surged by over 2% on Friday to mark nearly 14-month highs after producing countries agreed not to increase supply, according to Reuters. Brent crude futures climbed $1.75 or 2.6% at $68.49 a barrel by 1250 GMT. West Texas Intermediate (WTI) crude futures jumped $1.49 or 2.3$ to $65.32 on track for weekly gains. Both contracts grew by more than 4% on Thursday.The … [Read more...] about Oil Prices Surge 2% as OPEC+ Extends Output Cuts
China Sets Conservative 6% GDP Target Below Analyst Consensus
China has set a conservative economic growth target of 6% in 2021 to fall significantly below the analyst consensus of 7%, according to Reuters. Chinese Premier Li Keqiang said the target took into account the recovery of economic activity after the peak of the COVID-19 pandemic. China's GDP expanded 2.3% in 2020, the weakest in 44 years. It is the only major economy to … [Read more...] about China Sets Conservative 6% GDP Target Below Analyst Consensus
Eurozone Construction Activity Contracts for 12th Straight Month
Construction in the Eurozone contracted in February to mark a full-year decline amid the COVID-19 pandemic, according to the latest data compiled by IHS Markit. The Eurozone Construction Total Activity Index rose to 45.0 in February from 44.1 in January. The headline figure tracks changes in total volume month-on-month.The decline marked the twelfth straight monthly fall in … [Read more...] about Eurozone Construction Activity Contracts for 12th Straight Month
U.K. Construction Activity Back to Growth in February
Construction activity in the United Kingdom expanded in February after a setback at the start of the year, according to the latest data compiled by IHS Markit. The headline seasonally adjusted UK Construction Total Activity posted 53.3 last month, up from 49.2 in January. It is also above the 50.0 no-change mark.Residential work remained the strongest area of growth, even as … [Read more...] about U.K. Construction Activity Back to Growth in February
