The latest data from the Labor Department reveals a decline in the number of Americans filing new jobless claims. This decrease in layoffs signals a positive trend in the labor market and helps alleviate concerns about its deterioration. The report also indicates a reduction in unemployment rolls, reaching levels not seen since mid-June. This development
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The recent spike in unemployment in July has raised concerns among economists and investors regarding the state of the US labor market. According to Arch Capital Chief Global Economist Parker Ross, the increase in unemployment cannot be attributed to Hurricane Beryl, and there is no clear common theme across the key drivers of unemployment in
The semiconductor industry in Asia experienced a significant downturn on Wednesday morning, as a direct result of Nvidia’s sharp decline in the U.S. The ripple effect was felt across the region, with major players such as Samsung Electronics and SK Hynix being dragged down along with Nvidia. This sudden shift in market dynamics was fueled
The ISM Manufacturing PMI is expected to rise in August, potentially impacting the USD/JPY exchange rate. Economic analysts are predicting a slight increase in the PMI from July to August, which could have implications for the US economy and investor sentiment. While the manufacturing sector only accounts for a fraction of the US economy, positive
The discussion surrounding the relationship between the political party affiliations of U.S. presidents and economic growth has been a subject of considerable analysis. While some studies have indicated a correlation between the party in power and economic performance, it is essential to recognize that correlation does not equate to causation. Factors such as global economic
Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan and expressed his hope for Washington to find “a right way” to foster better relations between the two countries. Despite escalating tensions in recent years, Xi emphasized China’s commitment to a stable and healthy relationship with the United States. Xi Jinping highlighted
Gold has maintained a firm tone and is currently near its all-time high, as it eagerly awaits the release of US PCE data. This data, due later today, is expected to provide fresh signals for the precious metal. The strong demand for gold, as a safe haven asset and due to large purchases by central
China’s recent decision to open an anti-subsidy probe into imported dairy products from the European Union has added fuel to the ongoing tensions between the two economic giants. This move comes on the heels of Brussels releasing a revised draft decision related to tariffs on China-made electric vehicles, further complicating trade relations between China and
The recent data on the Australian labor market shows that the unemployment rate is currently at its highest since November 2021. The rise in unemployment is attributed to an increase in the labor supply, which may not be as concerning as a rise in unemployment due to job losses. According to AMP’s Head of Investment
GBPUSD has recently broken above the previous peak on 7.14.2023 high at 1.3143, indicating a higher high bullish sequence from the 9.26.2022 low. This breakout clearly identifies the right side and direction of the pair, which is higher. The rally from the 4.22.2024 low is currently ongoing, forming a 5 waves impulse Elliott Wave structure.
Recent statements from both the Bank of Japan (BOJ) and the US Federal Reserve have played a significant role in the recent strengthening of the Japanese yen. Governor Kazuo Ueda of the BOJ hinted at a potential adjustment of monetary policy in line with economic trends, raising speculation of a future interest rate hike. This
In recent news, the Canada Industrial Relations Board has ordered a halt to work stoppages at the country’s largest railways, Canadian National Railway (CNR) and Canadian Pacific (CPKC) Kansas City, to put an end to the unprecedented service disruption. This decision comes after Canada requested the intervention of the labor tribunal to resolve an impasse