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May 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

US economy

Gold falls in Europe
Markets

Gold falls in Europe

LONDON: Gold slipped more than 1% to an over two-week low on Monday as a firm dollar and rising US Treasury yields...
Published 30 Mar, 2021 05:45am
US MIDDAY: Gold slides
Markets

US MIDDAY: Gold slides

NEW YORK: Gold slipped more than 1% to an over two-week low on Monday as a firm dollar and rising US Treasury yields...
Published 30 Mar, 2021 05:45am
Euro set for biggest monthly drop since mid-2019; yen shorts grow
Markets

Euro set for biggest monthly drop since mid-2019; yen shorts grow

  • The euro slipped 0.2% in London trading at $1.1774, nearing last week's four-and-a-half-month trough of $1.1762. On a monthly basis, it is down 2.3%, its biggest drop since July 2019.
  • In a nutshell, the US economy is much stronger and miles ahead in the immunization game compared to Europe's and Japan's, and this ultimately translates into the Fed normalizing policy years before the ECB or the BoJ.
Published 29 Mar, 2021 05:57pm
Fed's Barkin says watch the data, rate hikes no article of faith
World

Fed's Barkin says watch the data, rate hikes no article of faith

  • "I don't think it matters. I think what matters is the outcomes we actually get," Barkin said.
  • The Fed's pledge not to raise rates or curb $120 billion in monthly bond purchases until the economy more clearly recovers "is quite explicit and outcome based," Barkin said.
Published 25 Mar, 2021 08:45pm
Fed to support economy until recovery 'well and truly done,' Clarida says
World

Fed to support economy until recovery 'well and truly done,' Clarida says

  • It will take some time for economic activity and employment to return to levels that prevailed at the business cycle peak reached last February. We are committed to using our full range of tools to support the economy until the job is well and truly done.
  • The Fed now sees the US unemployment rate falling to 3.5%, roughly where it was before the pandemic, by the end of 2023.
Published 25 Mar, 2021 07:54pm
US existing home sales drop sharply; prices surge
World

US existing home sales drop sharply; prices surge

  • The National Association of Realtors said on Monday that existing home sales dropped 6.6% to a seasonally adjusted annual rate of 6.22 million units last month.
  • Warmer temperatures, an acceleration in the pace of COVID-19 vaccinations and massive fiscal stimulus are expected to spur a sharp rebound in activity in March.
Published 22 Mar, 2021 09:11pm
Travel on US roads fell 11.3pc in January over 2020 levels
World

Travel on US roads fell 11.3pc in January over 2020 levels

  • For all of 2020, road travel fell 13.2% to 2.83 trillion miles, the lowest yearly total since 2001. Travel on US roads fell 10.3% in December. In January, Americans logged 223.3 billion miles, with the biggest decline in the Northeast United States, where driving was down 16.2%.
Published 18 Mar, 2021 07:40pm
Harsh weather temporarily weighs on US retail sales in February
World

Harsh weather temporarily weighs on US retail sales in February

  • Retail sales dropped by a seasonally adjusted 3.0% last month, the Commerce Department said on Tuesday. Data for January was revised up to show sales rebounding 7.6% instead of 5.3% as previously reported. Economists polled by Reuters had forecast retail dropping 0.5% in February.
  • With many households set to get another round of direct checks that are more than double what they received in January, we expect spending to receive another jolt in just a few months time.
Published 16 Mar, 2021 08:39pm
Yields fall ahead of Fed meeting, auctions
Markets

Yields fall ahead of Fed meeting, auctions

  • The benchmark 10-year yield, which reached 1.642% on Friday, its highest level since February 2020, was last down 3 basis points at 1.6055%.
  • "What we expect is that there is not going to be any change at this point," said Kelly Ye, director of research at IndexIQ, a unit of New York Life Investment Management Holdings.
Updated 15 Mar, 2021 09:25pm
S&P 500 subdued as focus turns to Fed
Markets

S&P 500 subdued as focus turns to Fed

  • Eli Lily drops after 'mixed' data from mid-stage trial.
  • Southwest, JetBlue signal recovery in leisure bookings.
  • Indexes: Dow up 0.1%, S&P flat, Nasdaq dips 0.1%.
Updated 15 Mar, 2021 09:24pm