US private payrolls drop by 20.2 million in April, the worst job loss in the history of ADP report
Private payrolls hemorrhaged more than 20 million jobs in April as companies sliced workers amid a coronavirus-induced shutdown that took most of the U.S. economy offline, according to a report Wednesday from ADP. In all, the decline totaled 20,236,000 — easily...
Dollar Firm Despite Historic ADP Job Loss, But Yen Stronger
Yen is staying as the strongest one today while the financial markets are generally mixed. Dollar is not too bothered by the ADP report which showed -20m private job losses. It’s currently trading as the second strongest, followed by Australian....
EUR/JPY Outlook: Bears Extend To The Lowest Levels Since Nov 2016
The cross fell further on Wednesday and hit new 3 1/2 low just under 115 mark, holding in red for the fifth straight day. The Euro was hit by Tuesday’s German top court decision, with rising safe-haven demand on concerns...
Australian Dollar Rises Slightly After Positive Retail Sales Data
US stocks rallied yesterday as the market reflected on some positive news from the US. The rally was mostly because certain US officials ruled against retaliating against China. This is after Trump last week suggested that he would apply fresh...
China tourism revenue drops nearly 60% in first major holiday since coronavirus outbreak
Chinese authorities lifted a more than two-month ban on outbound travel from the city where the global pandemic first emerged. Hecto Retamal | AFP | Getty Images Millions of Chinese people kept their spending down during the first major holiday in...
Yen Surges Through Resistance Against Dollar and Euro
Yen is trading generally higher is Asian session and broke some near term resistance level. Risk sentiments are mixed in major Asian markets. While US stocks ended with gains overnight, the closes in major indices were indeed lower then opens....
Fed Vice Chair Clarida says more support may be needed, but economy to rebound next quarter
The U.S. economy can return to positive growth in the third quarter after a massive drop in employment and GDP, Federal Reserve Vice Chairman Richard Clarida told CNBC on Tuesday. “Our policies we think will be very important in making...
Consumer debt hits new record of $14.3 trillion
Consumer debt hit a fresh record high to start 2020, even as credit card balances declined while Americans adjusted to the coronavirus pandemic. Household debt balances through March totaled $14.3 trillion, a 1.1% increase from the previous quarter and now...
Bundesverfassungsgericht Questions ECB
The ECB has been given 3 months to prove to the Bundesverfassungsgericht that QE was necessary. Germany’s Constitutional Court, Bundesverfassungsgericht, officially questioned whether the ECB legally purchased 2 trillion Euros worth of government debt during its Quantitative Easing (QE) Program. ...
US services sector posts biggest contraction since 2009 as coronavirus halts economic activity
A shopper wears a protective mask while browsing through the Island Cotton Company store as the state of Florida enters phase one of the plan to reopen the state on May 4, 2020 in Stuart, Florida. Joe Raedle | Getty...
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