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Euro region returns to growth in Q2 fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
5/31/2021 10:18:36 AM GMT Notes/Observations - CPI reading from Spain and Germany saw the YoY above ECB target level. - Various German States saw their May inflation data registered its biggest increase since fall 2018 mainly due to the base effect from higher energy prices. - China PBoC takes action to curb recent CNY currency strength. - US and UK markets closed for holidays. Asia: - China May Manufacturing PMI (Govt Official) registered its 14th month of expansion (51.0 v 51.1e). - China PBOC sets the Yuan reference rate at 6.3682 for its strongest fixing since mid-May 2018). - Former China PBOC official Sheng Songcheng said fast yuan appreciation probably will not last, suggests the Yuan is overbought ; says the rise in CNY suggests short-term speculation. ....
Currencies/Fixed Income - Slightly higher US yields helped to stabilize the USD but the greenback remained on track to register its fourth straight weekly decline and its longest weekly streak of losses since last July. The USD softness being attributed to Fed Chief Powell s acknowledgment that it needed further evidence of substantial further progress toward recovery to warrant a change to its ultra-loose monetary settings. - EUR/USD brushed aside various Q1 GDP readings and ignored the prospect of a double-dip recession in the region. Dealers appeared to be looking at recent data reports that suggested an underlying strength and an accelerating recovery for the region. The overall take was that the region lockdown-resilient economy would soon exit recession as businesses and consumers should begin fueling a recovery in 2Q. ....
NEW DELHI: The urban unemployment rate in the country shot up to 20.9% in April-June 2020, the period of the lockdown imposed to prevent the spread of the Covid-19 pandemic, latest official data showed. The quarterly periodic labour survey (PLFS) showed the unemployment rate rose in the three months to June last year from 9.1% in the previous quarter (January-March quarter) and 8.9% recorded in the April-June period of 2019. The government had imposed one of the strictest lockdowns to stop the spread of the infection which hurt economic activity and led to job losses in key sectors such as hospitality, airlines, tourism and other segments of the services sector. The PLFS was launched by the National Statistical Office in April, 2017, to estimate the employment and unemployment indicators (worker population ratio, labour force participation rate, unemployment rate) in the short time interval of three months for urban areas only in the current weekly status. Under CWS, a person ....
- Speakers - (ID) Indonesian Institute of Sciences (LIPI): No scientific data to corroborate new COVID variant is deadlier - (IN) India Official: May not need to raise additional funds in current FY, revised INR110B budget should suffice - (IN) India Home Ministry: May implement local restrictions to prevent spread of coronavirus (in line) - (IT) Italy Finance Min Gualtieri: Italy will not ask immediately for recovery fund loans - (TW) Taiwan CDC: Taiwan to acquire total 30M coronavirus doses; to receive coronavirus vaccines as soon as March (Note: Taiwan is seeking to develop domestic vaccine program) - (UK) UK Dept of Health: NHS will prioritize giving vaccines first to those in highest risk categories ....