US Initial jobless claims will be announced on Thursday at 15:30 MT time.
Christine Lagarde warns slowing productivity threaten living standards
Living standards around the globe could edge down unless governments invest more in research and education, thus helping to revive poor productivity growth. That’s what International Monetary Fund Managing Director Christine Lagarde stressed on Monday.
Lagarde told in a speech in Washington that the private sector alone won’t be able to generate enough innovation to increase productivity to decent levels without government active assistance.
Her remarks were accompanied by the publication of an IMF research that found that the 2008-2009 financial downtime along with deep recession played a greater role in slowing productivity than previously expected, choking global demand and investment.
Economists have long explored productivity gains as significant for sustaining higher wages as well as living standards, though they have struggled to explain a protracted slowdown in productivity surge since the early 2000s.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!