Weekly Market Recap | 31 January 2021
By Syfe  •  January 30, 2021
Week Ahead
  • China Manufacturing PMI (Jan)
  • ECM Monetary Policy Statement
  • US Nonfarm Payrolls & Employment Rate (Jan)
Thought Of The Week Slowdown in US Economic Rebound, FOMC Meeting Despite US GDP advancing by 4% in the last quarter of 2020, the economy shrank by 3.5% for the full year, recording its worst contraction in decades. Dichotomy of the recovery was also observed from the slowing consumer spending as households became more cautious while other parts of the economy continued to shine. Business investment spending grew at a solid pace of 13.8%, driven by firms spending on equipment and momentum in home sales also helped to power construction. Although jobless claims came in lower than expected, employment continues to be under pressure as tighter restrictions are imposed again due to the resurgence of coronavirus, dealing another blow to the ailing labour market. Key message from the Federal Open Market Committee (FOMC) meeting was largely aligned with market...
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By Syfe
Syfe is a digital investment platform that is building the next generation of financial solutions for individuals across Asia ...

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