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Day: June 2, 2021

3.7 million Americans set to lose unemployment benefits early as 25 states exit federal programs

Maryland Gov. Larry Hogan Chip Somodevilla | Getty Images News | Getty Images Around 3.7 million Americans will be affected by states’ early withdrawal from federal unemployment programs, according to a CNBC analysis of Labor Department data. In the past month, 25 states have announced plans to end pandemic-era benefits ahead of their formal expiration …

3.7 million Americans set to lose unemployment benefits early as 25 states exit federal programsRead More

With Central Banks Stepping Back, the Yen Looks Fragile

Central banks across the world are starting to step back from the ultra-loose policies they enacted last year, as widespread vaccinations and government spending do the heavy lifting. We are still in the early stages of this process, but the destination seems clear: higher interest rates. The biggest exception to this trend might be the …

With Central Banks Stepping Back, the Yen Looks FragileRead More

Eurozone Climbing into the Higher Inflation Boat: EUR/USD

Earlier, the Eurozone released its Producer Price Index (PPI) data for APRIL, which was 1%, vs an expectation of 0.5% and 1.1% in March.  No big deal, right?  Old data.  But theoretically, PPI feeds in the Consumer Price Index  (CPI) in subsequent months.  On Tuesday, the Eurozone released its CPI data for MAY.  (Why they …

Eurozone Climbing into the Higher Inflation Boat: EUR/USDRead More

EUR/USD Outlook: Euro Eases after Weak German Data, Risks Deeper Pullback on Strong US Labor Figures

The Euro dips further on Wednesday following a strong upside rejection on Tuesday that left a bearish daily candle with long upper shadow. Fresh weakness was helped by a significant drop in German retail sales (Apr -5.5% vs -2% f/c), while increased optimism about accelerating US economic recovery (investors expect upbeat results from US ADP/NFP …

EUR/USD Outlook: Euro Eases after Weak German Data, Risks Deeper Pullback on Strong US Labor FiguresRead More

Dollar Recovers in Range Bound Markets, No Breakout Yet

The financial markets continue to be range bound today, as traders seem to be holding their bets before Friday’s US job report. Dollar is recovering mildly but it’s held below next term resistance levels. Sterling is currently the stronger one, while Swiss France is the weakest. Technically, we’re still staying near term bearish on the …

Dollar Recovers in Range Bound Markets, No Breakout YetRead More

NFP: US Jobs Recovery To Get Back On Track But Will It Be Enough For The Fed?

Markets are still reeling from the April jobs report as the massive shortfall from the estimates killed any expectations that the Fed would begin tapering in the summer. The May report is not anticipated to be as much of a game changer even as nonfarm payrolls likely rose by a more eye-watering number. The data, …

NFP: US Jobs Recovery To Get Back On Track But Will It Be Enough For The Fed?Read More

U.S. inflation is transitory but could become more persistent, says ex-Fed official Dudley

The recent spike in U.S. inflation is likely transitory for now — but it could become more persistent in the coming years as more people return to work, said former New York Fed President William Dudley. “I think that the scare right now is probably going to abate a bit as we go through the …

U.S. inflation is transitory but could become more persistent, says ex-Fed official DudleyRead More

Swiss Franc Higher in Subdued Trading, Dollar and Sterling Soften

Trading continued to be rather subdued in Asian session. Major pairs and crosses are staying inside yesterday’s range, as well as last week’s range. Sterling is currently the weakest one, after failing to follow through the rally attempt earlier this week. Dollar is the next weakest for now. On the other hand, Aussie and Swiss …

Swiss Franc Higher in Subdued Trading, Dollar and Sterling SoftenRead More

U.S. Treasury Secretary Yellen and China’s vice premier talk about cooperation and economic recovery

The flags of China, U.S. and the Chinese Communist Party are displayed in a flag stall at the Yiwu Wholesale Market in Yiwu, Zhejiang province, China, May 10, 2019. Aly Song | Reuters BEIJING — China’s Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen spoke Wednesday for the first time since President Joe …

U.S. Treasury Secretary Yellen and China’s vice premier talk about cooperation and economic recoveryRead More

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