
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates.
Clothing sales headed south for the first time since 2009, dropping a hint that Chinese consumers were getting more worried about the Chinese even before an American tariff lift on Friday increased stress on China’s struggling exporters.
In April, total retail sales headed north by up to 7.2% from 2018, which is the slowest tempo since May 2003, as data from the National Bureau of Statistics revealed. The given outcome it undershot March's reading of 8.7% as well as estimates of 8.6%.
According to the data, customers were currently starting to cut back spending on everyday products, in particular, cosmetics and personal care, while proceeding with shunning more costly items such as vehicles.
In general, Chinese data for April mostly indicated a loss of momentum, following shockingly positive March results had backed hopes that the Chinese economy was gradually getting back onto firmer footing and would need less policy support.
In April, surge in industrial output speeded down more than anticipated to 5.4% on-year, rebounding from a 4-1/2-year maximum of 8.5% in March that some experts had thought was driven by seasonal as well as temporary factors.
Experts had predicted output would tack on by 6.5%.
Motor vehicle output dived by 16% as demand decreased, with sedan output heading south by about 18.8% that appears to be the steepest dive since September 2015. This week industry data disclosed that car sales went down by 14.6% in April, which happens to be the 10th losing month in a row.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
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