Overseas Headlines – May 26, 2022

United States:

US Jobless Claims Fall More Than Forecast in Tight Labor Market

“Applications for US unemployment insurance declined last week by more than forecast, underscoring a persistently tight labor market. Initial unemployment claims decreased by 8,000 to 210,000 in the week ended May 21, Labor Department data showed Thursday.”



Russian Rate Cut Tops Most Forecasts and Halts Ruble’s Rally

“Russia’s central bank delivered its third interest-rate reduction in just over a month and said borrowing costs can fall further still, halting a rally in the ruble as it unwinds the financial defenses in place since the invasion of Ukraine.”



China’s Economic Slump Shows No Signs of Bottoming Out in May

“China’s economy remained deep in a slump in May as lockdowns continued to weigh on activity, and as the threat of omicron and expanded restrictions dampened sentiment.”



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