Economic news to watch this week

Highlights from the previous week: Australia Reserve Bank (AUD) maintained their Interest Rates at the current rate of 0.25% as per expectation and the board maintained that they will not be increasing the cash rate targets until progress is being made towards full employment. Also their trade balance reached 10.60B vs 6.40B expected. This was good for AUD because it simply means that more goods and services were exported than imported.

Bank Of England (BOE) also maintained their Interest Rates at the current rate of 0.10%. The board felt that the current rate is appropriate but they will monitor closely and act accordingly. In the U.S, as expected, the jobless claims were higher, this is the case with most countries due to Covid-19, the labour market is affected badly and there are more unemployment insurances claims. To close off the week, there was Non-farm payrolls release which printed the lowest numbers with the improved earnings. April job stats were really shocking. But again, due to Covid-19 most countries are reporting crazy stats. Below is our weekly economic calendar. Feel free to subscribe to receive weekly economic news straight to your email or App which is available on Google Play store (see download link on the home page). Thank you for stopping by. Kindly share with anyone who is interested in learning more about the markets.