The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the subsequent two weeks. Nearly 10 million Americans “ 6% of a total workforce of 164 million - have filed for unemployment benefit since the Bureau of Labor Statistics™ cut-off date of March 12. Analysts...

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RECENT NEWS

Australia run of official data for November continued today with Retail Sales for the month of November, Month on Month (MoM).  +0.9 vs +0.4 (expected) and 0% prior. (AUD rallies 15 pips at the time of writing). "The 0.0% MoM headline reading in Oct was another disappointment given the middle-income tax rebates that came into effect on 1 July, especially with the detail showing spending...

Australia has recorded its 23rd consecutive monthly trade surplus in November. Trade Balance (Nov) 5800M vs expected 5915M and prior 4502M. Australia Nov goods/services exports +2 pct MoM/, seasonally adjusted. Australia Nov goods/services imports -3 pct MoM, seasonally adjusted. Source : FX Street

Employment in the US private sector rose 202,000 in December following November's increase of 124,000 (revised from 67,000), the Automatic Data Processing's Employment report showed on Monday. This reading came in better than the market expectation of 160,000. The US Dollar Index extended its rebound on the back of the upbeat ADP data and was last up 0.27% on the day at 97.22. Commenting on...

The business activity in the US' service sector expanded at a strong pace in December with the Institute for Supply Management's (ISM) Non-Manufacturing PMI improving to 55 from 53.9 in November. This reading came in better than the market expectation of 54.5. The US Dollar Index inched higher on the back of upbeat data and was last up 0.42% on the day at 97.02. Commenting on the data, "the...

U.S. manufacturing closed out a tumultuous yearwith the weakest monthly performance since the end of the recession, with orders shrinking and factories continuing to dial back production. The Institute for Supply Management's purchasing managers' index fell to 47.2 in December from 48.1, the fifth straight month of contraction and missing estimates for a rise in a Bloomberg survey of...

China's factory activity expanded at a slower clip in December, pulling back from a three-year high the previous month as new orders softened, a private survey showed on Thursday. But production continued to grow at a solid pace and business confidence shot up amid thawing trade tensions with the United States, offering some support for the cooling economy. Beijing and Washington agreed last...

Consumer confidence in the US weakened slightly in December with the Conference Board's Consumer Confidence Index falling to 126.5 from November's revised reading of 126.8. Further details of the publication showed that the Present Situation Index improved in December but the Expectations Index fell to 97.4 from 100.3. Commenting on the data, 'while consumers' assessment of current conditions...

China's manufacturing purchasing managers' index (PMI) bettered expectations to remain in the expansion territory for the second month in a row in December. The PMI for China's manufacturing sector came in at 50.2 in December, matching November's print and beating the estimate of 50.1, the National Bureau of Statistics (NBS) said Tuesday. The PMI for non-manufacturing came in at 53.5, missing...

ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The...
UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs...
EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash...
GLOBAL ECONOMY
First Phase of US-China Trade Deal Announced
Monday, 16 December 2019 09:09 WIB A trade deal between the United States and China, separately announced Friday by both countries, will be such a boon for American farmers they will...

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