
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
On Wednesday, General Motors announced that Venezuelan authorities had illegally seized its factory in the industrial hub of Valencia. The company vowed to immediately take all legal actions just to defend its rights.
The seizure comes amid a worsening economic downtime in leftist-led Venezuela, which has already roiled many American companies.
Yesterday, GMV's factory was suddenly taken by the public authorities. It prevented normal operations. Besides this, other assets of the company, including vehicles, have been illegally taken from its facilities, as the car maker told in its statement.
It told that the seizure would cause irreparable damage to the car maker, including its 2,678 employees, 79 dealers, not to mention its suppliers.
As for Venezuela's Information Ministry, it didn’t immediately respond to a request for information.
Venezuela's car industry has stayed in freefall, affected by an awful lack of raw materials stemming from complex currency controls as well as stagnant local output, and many factories are barely producing at all.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
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.
GDP in Europe is decreasing, but EURUSD jumped owing to the US labor market statistics.
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
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