Forex News

U.S. initial jobless claims for the week ending January 30 was 779,000, down 33,000 from the previous week, according to the Department of Labor press release. Thursday’s jobless claims reflect a weakened job market as it is still a historically high total due to the impacts of the pandemic.  The 4-week moving average jobless claims was 848,250, down 1,250 from the … [Read more...] about U.S Jobless Claims Fell by 33,000 for the Final Week of January

U.S Services PMI hit 58.7% in January, up one percentage point from December's level of 57.7%, according to the Institute of Supply Management press release. The reading is the highest since February 2019 and the eighth straight month of growth in the services sector. The overall Business Activity Index fell by 0.6 percentage point from 60.5% in December to 59.9% in … [Read more...] about U.S Economic Activity in the Service Sector Rose for the Eighth Consecutive Month

Eurozone’s Services Business Activity Index was 45.4 in January, down from December’s reading of 46.4, according to IHS Markit press release. The Composite Output Index in the private sector also fell from 49.1 in December to 47.8 in January.  Services were the main drag on the Eurozone economy as the sector contracted for a fifth successive month and at a sharper … [Read more...] about Eurozone Service Sector Contracted for the Fifth Successive Month