The world’s largest economy accelerated sharply during the opening quarter, boding well for both the U.S. growth outlook as well as the widely anticipated 2021 global recovery.
U.S. retail sales grew a sizeable 9.8% on a month-on-month basis in March, which represents a notable recovery from the -2.7% reported in February.
U.S. inflation is heating up according to new data out on Thursday, prompting one economist to say pressure will now build on the Federal Reserve to raise interest rates.
The U.S. Dollar pared its recent gains against the Euro, Pound and other major currencies following the release of U.S. jobs data that showed the economy added 49K jobs in January.
Over 10 million unemployed Americans might not get their previous jobs back according to the latest labour market report which shows the rapid recovery in employment witnessed over recent months is now at risk of stalling, leading some economists to say the need for another round of fiscal stimulus is becoming acute.
The Dollar extended its rebound against major and emerging market counterparts on Friday after official data showed America's labour market recovery continuing in the face of surging coronavirus infections last month, although global factors may matter as much for the currency's outlook.
The release of U.S. non-farm payroll data is the highlight of the day with foreign exchange markets likely to pay particular attention to this month's reading to get a steer as to whether the recovery continued to fade in July or found a fresh wind.
The Pound-to-Dollar rate outperformed Thursday as investors contemplated what rising jobless claims might mean for an economy that already outdid many rivals in a historic second-quarter collapse.
The Dollar was seen stronger against the Pound and volatile against the Euro after it was announced the U.S. economy added 196K jobs in March, well ahead of expectations for a reading of 175K expected by the market.
The U.S. Dollar was seen outperforming major rivals on Thursday, April 04 after labour market data easily beat analyst expectations and confirmed to currency market's the world's largest economy remains in rude health.
Page 6 of 6