The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8252 versus Friday’s fix at 6.8121.
Read More »Britain’s Public Borrowing Exceeds The Peak of The Financial Crisis
Britain’s public borrowing increased again in August, reaching a new record high, driven by massive spending to combat the Coronavirus pandemic, with the budget deficit since the start of the current tax year surpassing its full-year peak during the global financial crisis. The government has now borrowed 173.7 billion pounds …
Read More »S&P 500 and Dow Continue Their Longest Losing Streak in a Year
The S&P 500 Index and the Dow opened lower on Friday, continuing their longest losing streak in a year as concerns about the economy’s outlook for a future dominated by the Coronavirus remain, putting pressure on investor sentiment. The Dow Jones Industrial Average fell 120.93 points, or 0.45%, to 26,694.51 …
Read More »US: Durable Goods Orders Rise by 0.4% in August
Durable Goods Orders in the United States expanded by 0.4%, or $1 billion, on a monthly basis to $232.8 billion in August following July’s increase of 11.7% (revised from 11.2%), the US Census Bureau reported on Friday. This reading missed the market expectation of +1.5%. “Excluding transportation, new orders increased …
Read More »High-risk Currencies Offset Some of Their Losses, And Dollar is Stable Below its Two-Month High
The dollar settled below its recent two-month high, and riskier currencies erased some of their weekly losses, while stock markets received a boost from hopes of resuming talks on fiscal stimulus in the United States. The dollar is moving towards achieving its best weekly performance since early April, driven by …
Read More »ECB: Eurozone Companies Continue to Gain Credit as the Economy Reopens
European Central Bank data showed that Eurozone companies continued to obtain bank credit in August, two months after most economies eased restrictions on economic activities aimed at controlling the Coronavirus pandemic. Corporate bank loans rose 7.1% year-on-year, extending a borrowing boom that began in March when large parts of the …
Read More »European Stocks Mixed Performance With The Increase in COVID-19 Cases
Telecom companies pushed European shares up slightly, but the main indicators are heading towards a sharp weekly decline as the continent suffers a new wave of Covid-19 infections. The pan-European STOXX 600 index rose 0.2%, while telecom shares jumped 0.8%, topping the sectors’ gains. Shares in Spanish telecoms operator Massmoville …
Read More »Gold Rising as US Dollar’s Rally Receded
Gold prices rose, as the dollar fell and hopes for more stimulus measures in the United States re-emerged, but the yellow metal is on the path to post its biggest weekly decline since August. Spot gold rose 0.3% to $ 1873.83 an ounce. But prices are down about 4% a …
Read More »Oil Heading For a Weekly Decline on Growing Concerns
Oil prices have retreated, and are heading towards a weekly decline due to growing concerns that fuel demand will be affected by a new large-scale rise in cases of coronavirus, as well as some concern about a possible return of exports from Libya. Brent crude fell four cents to $ …
Read More »German Export Expectations Hit Highest Level Since October 2018
IFO Institute said that optimism among German exporters, who have been affected by the Coronavirus crisis, reached its highest level in September since October 2018. IFO said its index of export expectations rose to 10.4 in September from 5.5. it said more companies in the chemical and electrical equipment sectors …
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