The dollar has taken a breather after rising in response to robust US retail sales on Wednesday, with jobless claims now in focus as President Biden continues pushing for stimulus. .The Fed’s minutes have shown optimism on growth and no inflation worries. Bitcoin and Ethereum hit new all-time highs while gold is pressured.
US Retail Sales figures smashed all expectations with a leap of 5.3% in January, far above expectations. While covid-skewed seasonal adjustments may have amplified the rise, the most recent stimulus checks have also boosted sales. Bonds were sold off and the dollar advanced. Stocks retreated as the “good news is bad news” narrative kicked in – a lower chance of robust stimulus. Read more…..
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The Philippines is currently focusing on ramping up testing for the coronavirus and gradually reopening its public transport system safely, says Karl Kendrick Chua, acting secretary for the country’s National Economic and Development Authority.