Twenty years ago Prof. Edward Leamer made a big splash with a speech to the Fed in which he proclaimed that “Housing IS the Business Cycle,” highlighting how downturns in the housing sector tended to lead recessions by an average of 7 quarters.

After opening the day lower, Indian benchmark indices pared losses as the session progressed and ended the day lower.

AUD/USD falls with Trump's tariff threats and robust US labor data fueling gains in the US Dollar. US initial jobless claims drop significantly, underscoring the labor market's strength.

The EUR/USD remains under pressure, grappling with a mix of weak Eurozone economic data, China’s economic slowdown, and persistent US dollar strength.