The output growth of the United States services sector posted a six-year high in March, according to a report by IHS Markit. The IHS Markit US Services PMI Business Activity Index rose to 60.4 in March from 59.8 in February, and up from the estimated 60.0The rate of output growth signalled was the fastest since July 2014, which service providers attributed to greater client … [Read more...] about U.S. Services Output Growth Posts Six-year High In March
Forex News
China Bonds Lone Gainer Among 20 Largest Debt Markets in the First Quarter
China's government bonds were the single gainer among the 20 largest global debt markets in the first quarter of the year, according to a report. Data on Bloomberg Barclays indexes found that Chinese sovereign bonds rose 1% in the quarter. Their lack of correlation with overseas bonds created an alternative for investors to park funds amid the debt selloff.Securities made … [Read more...] about China Bonds Lone Gainer Among 20 Largest Debt Markets in the First Quarter
Bitcoin Surge Partly Driving Interest in China’s Digital Yuan
The surging price of Bitcoin could have partly driven interest in China's digital yuan project, according to CNBC. The People's Bank of China (PBOC) sees the digital yuan as a way to advance cashless payments — a digital version of the fiat currency which the central bank has been working on since 2014.PBOC Research Bureau Director Wang Xin said market interest in the … [Read more...] about Bitcoin Surge Partly Driving Interest in China’s Digital Yuan
S&P 500 Breaches 4,000 As Optimism Continues to Drive Bull Market
The S&P 500 rallied as much as 0.7% to breach the 4,000 mark as investors digested President Joe Biden's $2.25-trillion stimulus plan. It took about 21 months for the index to grow 1,000 points, while it took almost five years to rise from the 2,000 milestone to 3,000 in July 2019.The surge is driven largely by the climb in energy and financial shares amid the rollout of … [Read more...] about S&P 500 Breaches 4,000 As Optimism Continues to Drive Bull Market
U.S. Jobless Claims Rise To 719,000, Monthly Average Falls to One-Year Low
U.S. unemployment claims rose to 719,000 for the week ending March 27 after falling to the lowest levels since the pandemic hit in the previous week, the Labor Department reported. Initial claims increased by 61,000 last week from the previous week's revised level of 658,000, the lowest since the COVID-19 pandemic hit.The four-week moving average fell 10,500 to 719,000 to … [Read more...] about U.S. Jobless Claims Rise To 719,000, Monthly Average Falls to One-Year Low
