The dollar rose on Monday, as Traders proceeded to be cautious due to the increasing cases of Coronavirus in Europe and the United States, as well as the lack of progress in the US economic stimulus package. US House of Representatives Speaker Nancy Pelosi said on Sunday that she expected …
Read More »Turkish Lira in All-Time Low
The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions. The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared …
Read More »German IFO Business Climate Index Misses Estimates
The headline German IFO Business Climate Index came in at 92.7 in October, weaker than last month’s 93.2 while missing the consensus estimates pointing to a reading of 93.0. On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 95.0 for …
Read More »Italy Records More Than 21,000 New Cases of Coronavirus, Largest Daily Jump
Data released by the Ministry of Health in Italy on Sunday, October 25, showed a new record in the number of new cases of Coronavirus in one day, as it detected 21,273 cases and 128 deaths, while the government tightened restrictions further in an attempt to contain the expanding outbreak. …
Read More »Gold Dropping on USD Strength And Doubts About US Stimulus
Gold fell below the psychologically critical $ 1900 level on Monday to record the lowest price in more than a week, on US Dollar strenth and the lack of progress in talks on a new US stimulus package. Gold spot fell 0.2%to $ 1897.35 an ounce by 0711 GMT, after …
Read More »China: Will Impose Sanctions on US Entities Participating in Arms Sales to Taiwan
China’s Foreign Ministry announced on Monday, it will impose sanctions on the US entities involved in the arms sales to Taiwan. Lockheed Martin, Boeing and Raytheon will be sanctioned, the Ministry said. Developing Story…
Read More »AUD/USD Flirts With Session Lows
The Australian dollar fell against the US dollar during the Asian session and was hovering near the lower end of the daily trading range, just above the 0.7100 mark. The pair saw some fresh sell-offs during the first day of the week and gave up the positive movement of the …
Read More »PBOC Sets Yuan Reference Rate at 6.6725
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.6725 versus Friday’s fix at 6.6703.
Read More »Japan Considers Compiling $95.5 Billion Extra Budget to Counter Coronavirus
The Japanese government is said to compile an extra budget worth around $95.5 billion to counter the economic damage induced by the coronavirus pandemic, a local newspaper, Mainichi, reported over the weekend. The government is likely to debate using the 10 trillion yen ($95.52 billion) budget to extend a labour …
Read More »US Allows AstraZeneca to Resume Trials of Coronavirus Vaccine
AstraZeneca said it has resumed trials in the United States of an experimental on Covid-19 vaccine after US regulatory approval. On September 6, AstraZeneca suspended trials of its potential experimental coronavirus vaccine in the United States after a report that a participant in Britain’s trials had contracted a serious neurological …
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