Shortage of semiconductors, dubbed the ‘new oil,’ could dent GDP growth, boost inflation
China laid out seven “frontier” technologies in its 14th Five Year Plan. These are areas that China will focus research on and include semiconductors and brain-computer fusion. Yuichiro Chino | Moment | Getty Images Economic growth could slow and inflation...
Existing home sales suffer second straight monthly decline as tight supply pushes prices higher
Closed sales of existing homes fell 3.7% in March to a seasonally adjusted annualized rate of 6.01 million units, according to the National Association of Realtors. That is the slowest sales pace since August and the second straight month of...
The labor market is heating up as fewer people seek unemployment benefits
In an aerial view, workers with the San Francisco Department of Public Works repave a section of 24th Avenue on April 08, 2021 in San Francisco, California. Justin Sullivan | Getty Images Weekly unemployment claims fell to a new pandemic-era...
A Panoramic View of the US Economy and Dollar in 10 Charts
The pandemic inflicted a lot of damage on the US economy, but thankfully, the worst has passed. It turns out that when Congress and the Federal Reserve join forces to fight a crisis, the stimulus response is so overwhelming that...
ECB Expects Growth to Resume in 2Q21. Yet, PEPP Tapering is Still Premature
As we have anticipated, the ECB left all monetary policy measures unchanged in April. Policymakers indicated the current pace (increased since March) of asset purchases in the PEPP would remain intact. Other monetary policy measures will stay unchanged with the...
US Open: Stocks Point to Quiet Start, Jobless Claims Beat
After strong gains in the previous session, Wall Street stocks are pointing to a muted open. Jobless claim unexpectedly fall and oil extends losses. US futures Dow futures -0.04% at 34112 S&P futures -0.1% at 4170 Nasdaq futures -0.24% at...
GBP/USD Outlook: Sterling Dips on Fresh Safe-Haven Dollar Buying
Cable accelerated lower on Thursday and broke pivotal Fibo support at 1.3879 (38.2% of 1.3669/1.4008 upleg), driven by stronger dollar on fresh safe-haven buying after India reported record number of new COVID cases, while better than expected US weekly jobless...
Euro Mildly Higher after ECB, But No Upside Breakout Yet
Euro rises mildly after ECB President Christine Lagarde sounded cautiously upbeat in the post-meeting press conference. Yet, there is no clear follow through buying for an upside breakout yet. Dollar is also not much supported by better than expected jobless...
Jobless claims fall again as employment picture gains strength
The U.S. jobs market recovery accelerated its pace last week as fewer Americans headed to the unemployment line, the Labor Department reported Thursday. First-time claims for unemployment insurance totaled 547,000, well below the Dow Jones estimate for 603,000 and a...
EURUSD Ticks Up Above SMAs, Bullish Bias
EURUSD is posting a strong upside rally after the bounce off 1.1700, holding for now above the 1.2000 psychological mark. Currently, the price is holding marginally beyond the 20-period simple moving average (SMA) and the RSI is ticking higher in...