The monthly data published by Eurostat showed on Wednesday that the Unemployment Rate in the euro area and the EU stayed unchanged at 6.8% and 6.2%, respectively, in April. Markets were expecting the euro area Unemployment Rate to edge lower to 6.7%.
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Japanese stocks rose on Wednesday, supported by a rebound in the auto sector after a report by analysts gave positive expectations for the sector’s profits, but limited cautious gains in trading ahead of the monthly data on US employment in the non-farm sectors. The Japanese Nikkei index rose 0.65 percent …
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European shares opened slightly higher on Wednesday, boosted by a rally in bank and auto stocks, but negative data raised fears of slowing economic growth and capped gains. The pan-European STOXX 600 index started the month higher, adding 0.3% by 0716 GMT, after closing down 0.7% on Tuesday, as the …
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US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank. Biden’s endorsement of …
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The sterling gains against the Japanese yen, despite risk-off market sentiment that typically benefits the Japanese yen, but the rally in the USD/JPY pair weighed on the yen. The GBP/JPY gains some 0.20% as the Asian Pacific session begins. As for market sentiment, it begins to shift to positive but …
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US Treasury Secretary Janet Yellen said during a CNN interview on early Wednesday “Inflation is number one concern for President Biden”.Financial markets are digesting Yellen’s comments amid a generally quiet early Asian session. The AUD/USD pair pauses the day-start recovery moves around 0.7180.Key QuotesI was wrong about the path inflation …
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US President Joe Biden plotted inflation-fighting strategy, on Tuesday, during his meeting with the Fed Chair Jerome Powell. Biden reportedly focused on relentlessly surging prices, with the destiny of the US economy and his own political prospects increasingly dependent on the actions of the government’s central bank.Tuesday’s meeting was the …
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The Australian dollar has slid from weekly highs above 0.7200 amid a trading day with relatively sour market sentiment with negative impact around the end of May flows that enhanced the US dollar while US Treasury yields exhibit some momentum.AUD/USD pair has retreated during the US session, from weekly highs …
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Investors do not seem so much worried about US President Joe Biden’s meeting with Fed Chair Jerome Powell, on Tuesday. Biden is urging the Fed to keep its focus on ways to control US inflation as a message to markets that inflation fighting has become the highest priority of the …
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The OPEC+ group of producers continues to underproduce, which had taken the sting out of the highly anticipated 430k bpd output hike this month.While there are no formal plans to push OPEC to increase oil output, some members have plans for so doing particularly given that Russian output is likely …
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