As per the Australian National report, Gross Domestic Product (GDP) of Australia has rose 1.8% this quarter which reflected the continued easing of COVID-19 restrictions and the recovery in the labor market. The level of economic activity is 0.8% above December quarter 2019 pre-pandemic levels and has grown 1.1% in through the year terms. Also [...]
The yellow metal is trading low against the greenback due to Upbeat US macro data and uptick in the US bond yields. According to the ADP National Economic Report released Thursday, U.S. private-sector employment surged by 978,000 in May, this gain was above forecasts from economists with a record of 923,000 jobs. It is to [...]
The AUD/USD pair trades downside amid the release of both favorable and unfavorable Australian macroeconomic data. On Wednesday the country reported that Gross Domestic Product was up 1.8% QoQ in the first quarter of the year, much better than the 1.5% expected. Whereas Australia’s trade surplus has widened in April, increasing from $5.8bn to $8.0bn. [...]
EUR/USD made a drop on Wednesday amid downbeat retail sales data and uptick in the US Treasury yields. US dollar holds onto recent gains with higher yields, strong ISM Manufacturing PMI and covid concerns. German retail sales monthly report showed a fall in figure to -5.5% against the previous record of 7.7% and the forecast [...]
