The United States is well placed to overtake countries in the European Union when it comes to recovery from the economic shock caused by the COVID-19 pandemic, CNBC reported. According to the International Monetary Fund (IMF), the U.S. is likely not only to return to but also exceed its pre-pandemic growth this year.The Euro Zone's gross domestic product (GDP) is seen … [Read more...] about US Poised to Outpace Europe in Post-COVID-19 Economic Recovery
Forex News
U.K. Construction Output Growth Marks Six-Year High
Construction output of the United Kingdom expanded at its sharpest pace in over six years in March, according to data released by IHS Markit. The seasonally adjusted U.K. Construction Total Activity Index rose to 61.7 in March from 53.3 in February. This signalled the strongest rate of construction output growth since September 2014.Among the categories, house building was … [Read more...] about U.K. Construction Output Growth Marks Six-Year High
U.S. Consumer Credit Grows 7.9% In February
U.S. consumer borrowing posted growth in February after remaining flat in the previous month, according to data released by the Federal Reserve. Consumer credit grew by 7.9% in February, versus flat in January and 2.6% in December 2020.Total credit rose to $4.2058 trillion from $4.178 trillion the previous month. Year-on-year, revolving credit climbed 10.1% to $974.4 … [Read more...] about U.S. Consumer Credit Grows 7.9% In February
More Americans Filed Jobless Claims Than Expected
U.S. unemployment claims totaled 744,000 last week to surpass market expectations, data from the Department of Labor showed. The latest figure reflects an increase of 16,000 in the week ending April 3 from the previous week's revised level of 728,000. Economists surveyed by the Dow Jones expected 694,000.Initial claims under state programs totaled 740,787 in the same week, … [Read more...] about More Americans Filed Jobless Claims Than Expected
USD/INR: US Retaliatory Tariffs Poised to Help the Dollar Against the Rupee
RBI has lowered its reverse repo rate from 7.9% in 2015 to 3.35% in 2020/21.India’s industrial expansion slowed 4.6% in February 2021. The US is planning to impose close to $100 million in retaliatory tariffs on India. The USD/INR trading pair closed on a high of 73.8270 on April 6, 2021, after opening the trading day on a low of 73.2019. The dollar … [Read more...] about USD/INR: US Retaliatory Tariffs Poised to Help the Dollar Against the Rupee
