The Canadian economy continued to add new jobs for the third consecutive month, after adding 418,500 jobs in July. Canada has now recovered more than half of the three million lost jobs due to the coronavirus (COVID-19) pandemic, Bloomberg reported. Hourly wages increased by 5.7% last month on an annual …
Read More »U.S. Wholesale Inventories Decrease by 1.4% in June
Wholesale inventories in the United States declined by 1.4% in June, according to data by the U.S. Department of Commerce on Friday. Wholesale inventories were expected to decline by 2%, according to initial estimates after falling by 1.2% in May. Moreover, goods imports saw their biggest increase in more than …
Read More »Breaking: Dollar Surges Amid Reports US to Sanction Hong Kong Leader Carrie Lam
The safe-haven dollar is rising across the board Amid Reports US to Sanction Hong Kong Leader Carrie Lam. The US administration is reportedly considering expanding its action against China, potentially sanctioning Hong Kong leader Carrie Lam. Bloomberg is reporting. Such a move would come after President Donald Trump signed an …
Read More »Canada: Unemployment Rate Falls to 10.9% in July
Net Change in Employment in Canada rose by 418,500, compared to analysts’ estimate of 400,000, in July and brought the Unemployment Rate down from 12.3% in June to 10.9% in July, Statistics Canada reported on Friday. Underlying details of the publication revealed that the Participation Rate improved from 63.8% to …
Read More »US Nonfarm Payrolls Up 1.8 Million in July
Nonfarm Payrolls (NFP) in the US rose by 1.8 million in July, the data published by the US Bureau of Labor Statistics showed on Friday. This reading beat the market expectation of 1.6 million by a small margin and followed June’s print of 4,791,000. Further details of the publication revealed …
Read More »Saudi Arabia Announces Crude Selling Prices For September
A document obtained by Reuters appeared that the giant Saudi National Oil Company Aramco announced on Thursday the official selling prices for the month of September for its light Arab crude. Saudi Arabia set the official selling price for its Arab Light crude to Asia at a premium of $ …
Read More »1.18M Americans Applied For Unemployment Benefits Last Week
There were 1,186,000 Initial Claims for unemployment benefits in the US during the week ending August 1st, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous week’s print of 1,435,000 (revised from 1,434,000) and came in better than the market expectation …
Read More »US Oil Inventories Down 7.4 M Barrels in Week
Crude oil inventories in the United Stated declined for the second consecutive week, according to data by the US Energy Information Administration (EIA). Oil stockpiles decreased by 7.4 million barrels last week, exceeding market estimates, to a total of 518.6 million barrels. Yesterday, data by the American Petroleum Institute (API) …
Read More »US Sectors Show Mixed Performance in July
Purchasing managers’ indices (PMIs) in the United States showed a mostly positive performance during the month of July, according to data by IHS Markit. Four out of seven sectors expanded in activity in July, while the others showed slower rates of decline compared with June, reflecting the uneven impact of …
Read More »US Trade Deficit Narrows to $50.7 Billion
The United States’ international trade deficit declined by $4.1 billion to $50.7 billion in June, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday. This reading followed a deficit of $54.8 billion in May and came in slightly worse than …
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