Falling Stocks Give Dollar a Boost
After an extended rally across most sectors, Wall Street is set to open lower this morning and this is expected to see an increase in demand for the dollar as investors turn to the currency markets until stock prices settle. Stock markets have enjoyed a three-month resurgence but investors fear that markets have outpaced growth and the earnings cannot be sustained. More
ADP Employer Estimates 532,000 Lost Jobs
ADP Employer Services estimates that 532,000 workers lost their jobs in the US for the month of May – this is a slight decrease in the revised reading for April of 545,000. The Non-Farm Payroll and updated unemployment rate figures are due this Friday and are expected to confirm the DP estimates. More
Pound Gains on Signs of Recovery
The British pound continues to make gains on signs that the economy is improving – the services sector in particular is expected to return to growth after months of losses. More
Australia Defies Expectations, Avoids Recession
Australia surprised analysts with a 0.4 percent growth in Gross Domestic Product (GDP) for the first quarter of the year. The positive growth means that Australia has avoided two consecutive quarters of negative growth – the technical definition of a recession. More
