US Secretary of Labor Marty Walsh speaks about Labor Unions during an event in the…
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labor
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What Is the Fair Labor Standards Act (FLSA)? The Fair Labor Standards Act (FLSA) is…
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Japanese Yen Fourth Quarter Recap The anti-risk Japanese Yen had a mixed performance against its…
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Chinese and U.S. flags flutter outside the building of an American company in Beijing, China…
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A far-reaching bill aimed at barring products made with forced labor in China became law…
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SEATTLE — Amazon, which faces mounting scrutiny over worker rights, agreed to let its warehouse…
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BusinessNewsRetail
The dollar index (DXY00) on Wednesday fell -0.472 (-0.49%). The dollar index on Wednesday fell to a 4-session low after a rally in the S&P 500 to a 2-week high reduced the liquidity demand for the dollar. Strength in the yuan also weighed on the dollar after the yuan on Wednesday jumped to a 3-1/2 year high of 6.3443 yuan/USD on optimism that supportive steps taken by the Chinese government will boost economic growth and that the omicron variant will have a limited impact on the global recovery. EUR/USD (^EURUSD) on Wednesday rose +0.0083 (+0.74%). EUR/USD on Wednesday pushed up to a 1-week high on weakness in the dollar and the British pound. GBP/EUR retreated Wednesday after the Financial Times reported that the UK is close to announcing new Covid restrictions, including vaccine passports for large venues and an order to work from home. ECB comments on Wednesday also sparked short-covering in EUR/USD when ECB Governing Council member Kazaks said the omicron variant of Covid must inflict significant damage on the Eurozone economy before he would back additional stimulus measures. Also, ECB Vice President Guindos said, "we might see some growth deceleration in the short-run" from the new omicron variant, but then a "strong recovery in the medium-term." USD/JPY (^USDJPY) on Wednesday rose +0.04 (+0.04%). USD/JPY on Wednesday extended this week’s gains up to a 1-week high. Strength in stocks curbed the safe-haven demand for the yen after the Nikkei Stock Index rallied +1.4% Wednesday to a 1-1/2 week high. Also, a jump in T-note yields on Wednesday weighed on the yen. Finally, weaker-than-expected Japanese economic data was bearish for the yen after Japan Q3 GDP was revised downward to -3.6% (q/q annualized) from -3.0%, weaker than expectations of -3.1%. Wednesday’s U.S. economic data was bullish for the dollar. U.S. Oct JOLTS job openings rose +431,000 to a 3-month high of 11.033 million, showing a stronger labor market than expectations of 10.469 million. February gold (GCG22) on Wednesday closed up +0.80 (+0.04%), and March silver (SIH22) closed down -0.091 (-0.40%). Precious metals prices on Wednesday settled mixed. A weaker dollar on Wednesday was supportive of precious metals. However, gains in metals were limited due to higher T-note yields and mostly higher stocks that reduced the safe-haven demand for precious metals. The dollar and gold have continued safe-haven support from the negative impact of the worldwide spread of the delta and omicron Covid variants on the global economic recovery.
by adminThe dollar index (DXY00) on Wednesday fell -0.472 (-0.49%). The dollar index on Wednesday fell…
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Microsoft CEO Satya Nadella and Volkswagen CEO Herbert Diess (not pictured) attend a session during…
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WASHINGTON – Northrop Grumman CEO Kathy Warden said the ongoing labor shortage plaguing the nation…
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Several of the nation’s largest labor unions are suing over President Joe Biden’s vaccine and…
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BusinessHealth CareNews
Labor union representing TSA workers urges White House to delay vaccine deadline
by adminTransportation Security Administration (TSA) workers screen passengers at O’Hare International Airport on November 08, 2021…
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BusinessHealth CareNews
Labor secretary says most truck drivers are exempt from Covid mandate, handing industry a win
by adminTrucks move goods on the Massachusetts Turnpike in Grafton, MA. David L. Ryan | Boston…
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Millions of employees remain on the job market’s sidelines and are only slowly trickling back…
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President Joe Biden plans to fix the border meltdown by inviting economic migrants to come…