Jobless claims hit new pandemic low, while New York manufacturing notches record high
Initial claims for unemployment insurance fell to a new pandemic-era low last week, the Labor Department reported Thursday. First-time filings for benefits totaled 360,000, in line with Dow Jones estimates and the best number since March 14, 2020. The total...
Dollar Regains Ground on Job Data, Sterling Support by BoE Saunders
Dollar regained some ground in European session, as assisted by mild pull back in stocks. The greenbacks stay firmer into US session as jobless claims data showed continuing improvement. Sterling is also stronger today after BoE policymaker Michael Saunders’ hawkish...
WTI Oil Outlook: Expected Supply Increase Keeps Oil Price Under Pressure
WTI oil remains in red on Thursday and extends south, following Wednesday’s 3% drop, as markets anticipate increased supplies after a compromise deal between leading OPEC producers. Saudi Arabia and the United Arab Emirates reached a compromise that should result...
Digital bank Revolut valued at $33 billion in funding round led by SoftBank and Tiger Global
Nikolay Storonsky, founder and CEO of Revolut, on stage at the 2019 Web Summit technology conference in Lisbon, Portugal. Harry Murphy | Sportsfile for Web Summit via Getty Images LONDON — British fintech firm Revolut said Thursday it had raised...
NZD/USD Rallies To Major Resistance
The New Zealand dollar soared after the RBNZ cut its QE program in anticipation of policy tightening. The initial surge above 0.7010 reveals renewed buying interest after the kiwi spent weeks above the important daily support at 0.6920. The psychological...
ASX200 Range Holds After Stronger AU Jobs Offset By Softer China GDP
Consensus expectations heading into the labour market data were for employment to rise +25k and for the unemployment rate to fall to 5.0%. On both metrics the labour market exceeded expectations as the unemployment rate fell to a 10 year...
Sterling Shrugs Job Data, Dollar Turns Weaker Against Yen and Franc
Dollar turns notably weaker against Swiss Franc and Yen today but markets are relatively steady elsewhere. Sterling pays little attention to employment data which showed some positive signs. Canadian Dollar also shrugged off yesterday’s BoC tapering. General focus will now...
Powell says the Fed is still a ways off from altering policy, expects inflation to moderate
Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements but...
Covid scams cost Americans nearly $500 million — and criminals are now eyeing the child tax credit
Visoot Uthairam | Moment | Getty Images Americans have lost nearly $500 million to Covid-related scams since the start of the pandemic, according to Federal Trade Commission data. And the agency is warning that con artists will likely try to...
Wholesale prices rose 7.3% in June from a year ago for a record surge
Wholesale prices for June rose more than expected in another sign that inflation is moving at a faster pace than markets had anticipated. The producer price index, which measures what companies get for the goods they produce, increased 1% from...
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