US weekly jobless claims fall further as labor market remains strong
The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying strength in the labor market that should continue to support the economy.
May 23, 2024
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BofA projects EUR-USD to hit 1.12 by year-end, above consensus
Bank of America (BofA) released its currency market forecast, projecting the EUR-USD exchange rate to reach 1.12 by the end of the year. The bank’s analysts expect the majority of the euro’s appreciation to occur in the second half of the year, positioning their forecast above the consensus estimate of 1.08 for 2024.
Oil creeps back up after three days of losses
Oil prices crept up on Thursday, clawing back some of the previous three days’ losses despite the U.S. Federal Reserve entertaining a further tightening of interest rates if inflation remains sticky, a move that could hurt oil demand.
Bitcoin price today: unchanged at $69k amid Fed fears, spot Ether ETF focus
Bitcoin price moved marginally on Thursday as a recent rally in cryptocurrencies, on hype over a potential spot Ether exchange-traded fund, was largely undermined by renewed fears of high U.S. interest rates.
China’s Alibaba to raise $4.5 billion through convertible notes offering
Alibaba (NYSE:BABA) Group Holding said on Thursday it would sell $4.5 billion in convertible senior notes and plans to repurchase American Depositary Shares using some of the proceeds.