Source: University of Michigan Consumer sentiment rebounded in June, driven by improved economic prospects after a decline in May. The Index of Consumer Sentiment stood at 85.5 in June, up 3.1% from May's 82.9 and up 9.5% from June 2020's 78.1.The latest reading is the second-highest since the COVID-19 pandemic hit, behind April's 88.3.The June climb was driven by … [Read more...] about Consumer Sentiment Index Rebounds to 85.5 in June
Forex News
S&P Affirms China’s ‘A+’ Rating. Growth to Continue Overtaking Peers
Source: S&P Global Ratings On Friday, global credit watcher S&P Global Ratings n Friday affirmed its credit ratings on China, citing the country's reform agenda and growth prospects. S&P affirmed its 'A+' long-term rating on China with a stable outlook, and the short-term sovereign credit rating at 'A-1.'The credit watcher believes China will maintain … [Read more...] about S&P Affirms China’s ‘A+’ Rating. Growth to Continue Overtaking Peers
US First-Quarter GDP Maintained at 6.4%
Source: US Bureau of Economic Analysis The United States' real gross domestic product (GDP) for the first quarter was maintained at 6.4%, as changes in investments were offset by adjustments in imports. The third estimate for the first-quarter economic growth stood at 6.4%, unchanged from the first two estimates. GDP grew by 4.3% in the fourth quarter of … [Read more...] about US First-Quarter GDP Maintained at 6.4%
USD/TRY: Dollar Maintains Lead Ahead of Jobless Claims and GDP Report
Turkey’s construction index rose to 82.4 from a low of 79.6 but still denoted lower confidence among investors as it fell below 100. The sale of houses in Turkey fell 38.28%, from 95,863 in April 2021 to 59,166 in May 2021. US GDP may rise above 6.5% (QoQ) due to higher inflation numbers. The USD/TRY gained 0.42% on June 24, 2021, from the previous day's trading … [Read more...] about USD/TRY: Dollar Maintains Lead Ahead of Jobless Claims and GDP Report
Jobless Claims Remain Above 400,000 for Second Straight Week
Source: US Labor Department American unemployment claims recorded a decline in the third week of June, but continued to be above the 400,000 level. Seasonally adjusted initial claims for the week ending June 19 fell 7,000 week-on-week to 411,000. This compares with the 1.472 million claims in the week ending June 13, 2020.The previous week's level was revised higher by … [Read more...] about Jobless Claims Remain Above 400,000 for Second Straight Week
