China's consumer spending growth slowed in April to fall short of market expectations, CNBC reported. Retail sales climbed 17.7% in April, slower than the 34.2% year-on-year growth in March. Analysts expected a 24.9% growth.Catering sales grew 46.4%, slower than 91.6% recorded in March.Year-to-date online sales of consumer goods grew at a slower pace of 23.1% versus 25.8% in … [Read more...] about The World’s Second-Biggest Economy Reports Slowdown in April Consumer Spending
Forex News
Consumer Sentiment Index Falls to 82.8 as Inflation Concerns Heightens
U.S Consumer Sentiment Index fell from 88.3 in April to 82.8 in May, according to the University of Michigan press release. The fall in confidence reflects rising consumer price fears, with inflation climbing 0.8% in April to mark a 4.2% annual jump, the highest since September 2008.Current Economic Conditions Index fell to 90.8 in May from 97.2 in the previous … [Read more...] about Consumer Sentiment Index Falls to 82.8 as Inflation Concerns Heightens
U.S Retail Sales Stagnates in April after 10.7% Jump in March
U.S retail sales for April 2021 stood at $619.9 billion, little changed from March, according to the Census Bureau press release. The stalled retail sales in April reflect fading boosts from stimulus checks which caused a 10.7% surge in the previous month. April’s retail sales were 51.2% higher than the comparable month of 2020February-April sales were up 27.1% from the … [Read more...] about U.S Retail Sales Stagnates in April after 10.7% Jump in March
American Jobless Claims Fall To Pandemic-Low For Fifth Straight Week
Unemployment insurance claims hit a pandemic-low for the fifth straight week for the seven days ending in May 8, the Labor Department reported. Seasonally adjusted initial claims fell 34,000 to 473,000 in the week ending May 8 to mark the lowest since March 14, 2020's 256,000.The previous week's jobless claims was revised 9,000 higher to 507,000 from 498,000 earlier … [Read more...] about American Jobless Claims Fall To Pandemic-Low For Fifth Straight Week
EUR/JPY Rallies to 2-Year Highs as Indices Sell-off Persists
The euro continues to strengthen across the board, supported by an improved EU economic outlook.The Chinese yuan continues to gain ground against the dollar amid optimism about the Chinese economy's health and outlook.US indices remain on edge amid inflation jitters which could cause the FED to alter monetary policies.Bitcoin is in consolidation mode, opting to trade in a range … [Read more...] about EUR/JPY Rallies to 2-Year Highs as Indices Sell-off Persists
