The May unemployment rate is expected to be near 20% as millions more lost jobs
People wear their face masks waiting in line for an emergency food distribution at the 88th Street Temple Church of God in Christ on April 14, 2020 in Los Angeles, California, during the coronavirus pandemic. Frederic J. Brown | AFP...
Weekly Focus – Reopening Lifts Spirits, US-China Tensions Increase
This week we got some encouraging data releases . In Germany, the May labour market report showed a further increase in the unemployment rate to 6.3% from 5.8% in April. Still, the employment losses remain relatively contained, as Kurzarbeit is...
USDCHF Retests 3-Month Trough; Neutral in Near Term
USDCHF faced a sharp selling interest over the last few hours, flirting with the 0.9590 support level. This move is suggesting more losses, confirmed by the RSI, which is heading south below the 50 leveld. Moreover, the red Tenkan-sen line...
EURJPY’s Upward Trajectory Under Negative Strain
EURJPY’s one-month positive incline is stalling ahead of the key 122.86 resistance border. Although positive momentum appears to be waning, the ascent from the 3½-year low remains intact, something also reflected by the upward slopes within the simple moving averages...
Euro Welcomes ECB’s PEPP Expansion, Resuming Rally
Euro strengthens again after ECB announced expansion of its crisis asset purchase program PEPP. Euro is also taking Swiss Franc mildly higher too. On the other hand, Sterling is the weakest one as pressured by the selloff against Euro. Canadian...
U.S. productivity falls at 0.9% rate in first quarter
A worker wearing a protective mask and gloves assembles face shields at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts, U.S., on Wednesday, April 29, 2020. The factory is making 50,000 face shields per week for hospitals in Massachusetts...
Jobless claims, total unemployment level worse than expected
Filings for unemployment insurance claims totaled 1.877 million last week in a sign that the worst is over for the coronavirus-related jobs crisis but that the level of unemployment remains stubbornly high. Economists surveyed by Dow Jones had been looking...
CHF/JPY 4H: Set For Breakout
The Swiss Franc has surged by 4.29% against the Japanese Yen since May 6. The currency pair tested the upper boundary of an ascending channel pattern at 113.31 on June 3. Given that the CHF/JPY exchange rate is currently trading...
Shifting corporate responsibility to consumer resilience
Nobel-prize winning economist Joseph Stiglitz made the point recently in reference to Covid-19 that the US has created an economy without resilience. It would be fair to say the US is not the only one, but it is the most...
Dollar Steadies As Stocks Pause Rally, Euro Eyes ECB Stimulus
Dollar regains some positive footing as risk rally eases Euro takes a breather ahead of ECB decision Oil pulls back amid doubts about OPEC+ extending output cuts Dollar fights to end losing streak as stocks lose steam The US dollar...
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