Deficit projected at $2.3 trillion for 2021, not counting additional stimulus, CBO says
The federal budget deficit is projected to total $2.3 trillion in the 2021 fiscal year, a drop from last year but well ahead of anything the U.S. had seen prior to the Covid-19 pandemic, the Congressional Budget Office reported Thursday....
Investors Await UK GDP
The British pound is almost unchanged in the Thursday session. Currently, GDP/USD is trading at 1.3828, down 0.07% on the day. In Asia, China and Japan are closed for the Lunar New Year, resulting in a lack of movement in the...
Jobless claims worse than expected as pandemic-related filings surge
First-time claims for unemployment insurance totaled 793,000 last week as declining Covid-19 cases provided little relief for the jobs market. The total for the week ended Feb. 6 was above the 760,000 forecast from economists surveyed by Dow Jones but...
No News is Sometimes Good News: DXY, AUD/USD
Many Asian countries were closed earlier due to the Lunar New Year, resulting in slow trade. The muted session carried over to Europe and now into the US. It’s quiet. Therefore, yesterday’s themes have carried over into today’s US session,...
Uber won’t buy bitcoin with its cash but would consider accepting it as payment, CEO says
Uber CEO Dara Khosrowshahi told CNBC on Thursday the company discussed but “quickly dismissed” the idea of buying bitcoin with corporate cash like Telsa. However, Khosrowshahi said Uber would consider accepting cryptocurrencies as payment. The comments come after Tesla announced...
Biden gets 62% approval in CNBC economic survey, topping first ratings of the last four presidents
President Joe Biden is on the best presidential honeymoon since at least Bill Clinton in 1993. A special online edition of the CNBC All-America Economic Survey focusing on the Biden agenda finds his approval rating at a sky-high 62%, beating...
Dollar Selling Resumes after Jobless Claims, Yen Crosses Rising
Dollar is back in selloff mode in early US session after slightly worse than expected jobless claims numbers. Though, at the time of writing, Yen underperforms mildly. On the other hand, buying focus is back on commodity currencies today. Australian...
GBP/USD Consolidates In 1.3850 Area
Since yesterday, the GBP/USD exchange rate has been trading sideways in the 1.3850 area. It is likely that the currency pair could gain support from the 55-hour SMA, as well the weekly R1 near 1.3800. Thus, some upside potential could...
Frank First Biden-Xi Call But Also Hope For Increased Dialogue
Market movers today We will keep monitoring news on vaccine efficacy and production capacity. Lots of studies are released these days. Today the calendar is very thin on data. We will keep an eye on US jobless claims in the...
Dollar Decline Slows But No Bottoming, Euro Softens
The forex markets are rather quite in Asia today, following subdued trading elsewhere. Dollar’s decline is slowing but it remains the worst performing major currency so far, followed by commodity currencies. Sterling and Yen are the stronger ones this week,...
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