Companies hired nearly a million new workers in May, ADP says
Private job growth for May accelerated at its fastest pace in nearly a year as companies hired 970,000 workers, according to a report Thursday from payroll processing firm ADP. It was a big jump from April’s 654,000 and the largest...
European Open: FTSE Breaks 7100, Employment And ISM In Focus
So far, so good, where Tuesday’s bullish breakout on the FTSE is concerned. And equities were a touch higher overnight ahead of key US data later today. Asian Indices: Australia’s ASX 200 index rose by 46.3 points (0.64%) and currently...
US Oil Climbs To 3-Month High
Oil rallies as markets expect delays in the Iran nuclear talks. WTI crude has rallied above the March peak at 67.90. This is an indication that buyers have regained control of the direction. The bulls have cleared the way to 70.00 even...
Range Trading Continues as Markets Await Breakouts
Major pairs and crosses are still bounded inside last week’s range as markets failed to take a decisive direction. While oil price continues to strengthen its rally, there is little reaction from Canadian Dollar so far. Stocks are also range...
Tesla recalls hundreds of Model 3 cars that were shipped to China
Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. Aly Song | Reuters BEIJING — Tesla is recalling more than 700 units of its Model 3 electric car that...
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...
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...
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)...
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),...
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,...
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