U.S jobless claims for the week ending February 6 counted 793,000, a decrease of 19,000 from the previous week’s level, according to the Department of Labor press release. The jobless claims were higher than expected 760,000. Pandemic Unemployment Assistance, a program for self-employed and gig workers, rose by 1.5 million to 8.7 million in the week ended January … [Read more...] about U.S. Jobless Claims Ease but Remain Above Expectations
Forex News
U.S Job Openings Gained Marginally in December Amid Declining Hiring
U.S job openings rose to 6.65 million on the last day of December from 6.572 million in the previous month, according to the Bureau of Labor Statistics press release. Hiring dropped to 5.54 million from 5.94 million in November. The job openings rate rose to 4.5% from 4.4% in NovemberThe hiring rate declined to 3.9% from 4.2% in NovemberLayoffs fell to 1.81 million in … [Read more...] about U.S Job Openings Gained Marginally in December Amid Declining Hiring
US Dollar Index (DXY) Uptrend Still Intact Ahead of Inflation Data
The US dollar index (DXY) declined sharply on Friday after the US published the January nonfarm payroll (NFP) data. On Monday morning, the index was trading at $91.0, the lowest level since Wednesday last week. US weak NFP The US dollar index was in a strong upward trend last week before the NFP data. At the time, analysts were expecting that the US created more than … [Read more...] about US Dollar Index (DXY) Uptrend Still Intact Ahead of Inflation Data
AUD/NZD: Australian Dollar Headed for a Dull 2021
The Australian dollar is struggling to hold the lead against the kiwi.The high under-employment numbers in Australia are outshining the rising employment numbers indicating low domestic trade.New Zealand has capitalized on Australia’s spat with China by signing a free-trade agreement. The AUD/NZD trading pair bounced off from the monthly lows of 1.0544 on February 3, 2021, … [Read more...] about AUD/NZD: Australian Dollar Headed for a Dull 2021
Household Spending Expectations Rise amidst Static Earnings Growth Prospects
Consumer expectations of household spending for the year ahead rose by 0.8 percentage point to 4.2%, according to the Federal Reserve Bank of New York press release. The growth expectations mark the second-largest month-to-month increase in the history of the series The earnings growth prospects were flat for the sixth consecutive monthThe mean perceived probability of … [Read more...] about Household Spending Expectations Rise amidst Static Earnings Growth Prospects
