Forex News
U.S. Dollar Lower As Soft ADP Data Increases Odds Of Aggressive Rate Cut
The U.S. dollar fell against its most major counterparts in the New York session on Thursday, as private sector employment increased less than expected in August, increasing the chances of a 50 basis point rate cut by the Federal Reserve this month.
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2 days ago
U.S. Services Index Unexpectedly Inches Higher In August
The Institute for Supply Management released a report on Thursday unexpectedly showing a slight uptick by its reading on U.S. service sector activity in the month of August. The ISM said its services PMI inched up to 51.5 in August from 51.4 in July, with a reading above 50 indicating growth in the sector. Economists had expected the index to edge down to 51.1.
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2 days ago
U.S. Labor Productivity Jumps 2.5% In Q2, More Than Previously Estimated
A report released by the Labor Department on Thursday showed labor productivity in U.S. jumped by more than previously estimated in the second quarter, while unit labor costs rose by less than previously estimated. The Labor Department said labor productivity shot up by 2.5 percent in the second quarter compared to the previously reported 2.3 percent surge.
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2 days ago
U.S. Weekly Jobless Claims Edge Down Slightly More Than Expected
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 31st. The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000.
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2 days ago
OpenAI Co-founder's New AI Startup SSI Raises $1 Bln
Safe Superintelligence Inc. or SSI, the new safety-focused AI startup founded by OpenAI co-founder Ilya Sutskever, has raised around $1 billion in the latest round. With the latest investment, the company is reportedly valued at around $5 billion. As per an update on the SSI site, investors for the new firm, which was launched in June, include NFDG, a16z, Sequoia, DST Global, and SV Angel.
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2 days ago
U.S. Private Sector Job Growth In August Slowest Since January 2021
A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by much less than expected in the month of August. ADP said private sector employment rose by 99,000 jobs in August after climbing by a downwardly revised 111,000 jobs in July. Economists had expected private sector employment to jump by 145,000 jobs.
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2 days ago
U.S. Labor Productivity Jumps More Than Previously Estimated In Q2
A report released by the Labor Department on Thursday showed labor productivity in U.S. jumped by more than previously estimated in the second quarter, while unit labor costs rose by less than previously estimated.
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2 days ago
more news
U.S. Weekly Jobless Claims Edge Down To 227,000
With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 31st.
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2 days ago
U.S. Private Sector Employment Climbs Much Less Than Expected In August
A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by much less than expected in the month of August.
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2 days ago
Uber In Deal To Offer Turo Vehicles Through Uber Rent
Rideshare and delivery network company Uber Technologies, Inc. has teamed with Turo, Inc., the world's largest peer-to-peer car sharing marketplace, for a multi-year partnership to offer Turo vehicles through Uber Rent platform beginning in early 2025. Millions of Uber customers throughout the U.S., Canada, France, the United Kingdom, and Australia will be able to rent from Turo vehicles...
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2 days ago
Eurozone Retail Sales Rise Marginally In July
Eurozone retail sales grew only marginally in July, suggesting subdued support from household consumption to economic growth. Retail sales posted a monthly growth of 0.1 percent in July, reversing a 0.4 percent fall in June, data published by Eurostat showed on Thursday. The decline reflects a 1.0 percent drop in automotive fuel sales. Food, drinks and tobacco sales rebounded 0.4 percent.
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2 days ago
Euro Rises Against Majors
The euro strengthened against other major currencies in the European session on Thursday.
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2 days ago
Sensex, Nifty End Slightly Lower After Soft US Data
Indian shares ended slightly lower on Thursday as weak U.S. labor market data reignited recession fears and oil prices rebounded on data showing a significant inventory drop.
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2 days ago
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