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US Economy crushed by COVID-19 lockdowns in Q2
Information is not investment advice
Ichimoku Kinko Hyo
EUR/JPY: After successfully breached the Kijun-Sen, the pair is trading above the Kumo confirming a bullish momentum.
XAU/USD: Gold is trading above the 23.6% retracement area of Fibonacci retracement levels. Bulls might attempt to reach the next resistance level at 38.2%.
US Market View
US Economy crushed by COVID-19 lockdowns in 2nd quarter
In the United States, the economy was contracted by (worst-ever) 32.9% in the second quarter in 2020, crushed by COVID-19 lockdowns in 2nd quarter.
US stock futures drop on Thursday after grim GDP report, worsening jobless claims.
The Labor Department data released the number of people filed for unemployment benefits in the past week. The figure exceeded one million.
US Key Point
- US economy contracted by worst-ever 32.9%
- US jobless claims top 1 million again
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Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
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