NZ Labour Market Review, June Quarter 2021
The unemployment rate fell to 4.0% in the June quarter, returning to its pre-Covid lows. The strong lift in employment indicates that a shortage of workers is not the main issue. Rather, demand for workers has been red-hot. Wage growth...
Kiwi Jumps after Strong Employment Data, Dollar Weakness Continues
Following strong closes in US stocks, Asian markets ex-Japan are trading generally higher. The development helps lift commodity currencies generally higher. In particular, New Zealand Dollar is additionally lifted by much stronger than expected job data. Yen is paring some...
‘Made in China’ products are running into new logistics problems
A ship leaves a container port in the evening in Lianyungang in east China’s Jiangsu province Thursday, July 22, 2021. Feature China | Barcroft Media | Getty Images BEIJING — Chinese companies wanting to go global are running into shipping...
Household debt jumps by the most in 14 years to nearly $15 trillion in the second quarter
Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021. Mike Blake | Reuters Household debt rose by its highest dollar amount in 14 years during the...
Infrastructure bill pulls $31 billion from Covid disaster loan program
d3sign | Moment | Getty Images A Senate infrastructure measure unveiled this week would pull $31 billion from a Covid disaster-loan program for businesses. The Economic Injury Disaster Loan program was one of the mechanisms Congress used to help ailing...
Biden approval ratings on Covid and economy fall in new CNBC All-America survey
President Joe Biden held on to his overall approval rating in the latest CNBC All-America Economic Survey but showed weakness in two key areas as the public’s views on the economy and the outlook for the virus soured. In the...
BoE Meeting: Neutral, With a Touch of Optimism
The Bank of England will announce its policy decision at 11:00 GMT Thursday. This is one of the big meetings, with updated economic forecasts and a press conference. The UK economy is humming along nicely, but the Delta outbreak and...
Dollar Back Under Pressure as Swiss Franc Surges Again
Dollar is under some pressure as falling treasury yield is weighing down the greenback. Canadian Dollar is even weaker as WTI oil price breaches 70 handle again. New Zealand and Australian Dollars are the stronger ones but gains are limited....
EURJPY Rebounds But Downside Risks Remain In Force
EURJPY is drifting across the 129.61 level, which happens to be the 50.0% Fibonacci retracement of the up leg from 125.08 until 134.12, after the bearish correction bounced off the 200-day simple moving average (SMA). The 200-day SMA is defending...
GBP/NZD Bearish Continuation Possible
The GBP/NZD is bearish and sellers are taking over. The angle of a drop and retracement is diverging, hinting at a bearish move. I am already short and have protected more than 350 pips. You can clearly see my shorting...
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