Overseas Headlines – June 21, 2021

United States:

U.S. Dollar Faces Volatile Week as Fed Policy Makers Line Up to Speak

“After months of diminishing volatility that left the dollar almost immune to Federal Reserve talk and data surprises, the world’s deepest and most liquid market is back to scrutinizing both — and just in time for one of the busiest weeks of the year. St. Louis Fed President James Bullard, Dallas Fed President Robert Kaplan and New York Fed President John Williams will speak on Monday before Chair Jerome Powell testifies to Congress on Tuesday. Friday will feature a reading on the central bank’s favored inflation gauge, while in between, other regional Fed chiefs discuss the economy and monetary policy.”



U.K. Housing Market Growth Slows as Record Prices Deter Buyers

“U.K. house price growth slowed in June as record prices and a lack of properties to purchase drained momentum from the market, Rightmove said. The nation’s largest online property portal said prices grew 0.8% this month after a 1.8% gain the month before, putting the average cost of a home at 336,073 pounds ($464,000). The increase is still the largest at this time of year since 2015, boosted by people seeking to leave London.”



China’s Falling Unemployment Masks a Lack of Jobs For the Young

“China’s unemployment rate has steadily dropped from last year’s pandemic peak though a lack of jobs for graduates and a shortage of skilled manufacturing workers point to underlying problems in the labor market. The urban jobless rate fell to a two-year low of 5% in May, official data showed last week, but unemployment for those between the ages of 16-24 — which captures graduates from school and college — was more than double that at 13.8%.”




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