Federal Reserve Chairman Jerome Powell said Monday that the US central bank remains committed to using all the tools at its disposal to help the world’s largest economy recover from the blow it took from the coronavirus pandemic. “We remain committed to using our tools to do what we can, …
Read More »British Newspapers: Johnson Will Ask Britons to Return to Work From Home
The British Telegraph newspaper reported that Prime Minister Boris Johnson will encourage Britons to return to work from home if possible to help contain the outbreak of the Coronavirus. The newspaper’s chief political correspondent said in a tweet on Twitter, citing sources, that Johnson told lawmakers that “moving now means …
Read More »Gold Rises And New Isolation Measures Overshadow The Dollar’s Strength
Gold rose within a narrow range Tuesday, September 22nd, as fears of a surge in COVID-19 cases across Europe addressed the pressure of the dollar’s strength on the precious metal, ahead of words for decision-makers in the US Federal Reserve this week. Gold rose in the spot market 0.1% to …
Read More »Wall Street Lower on Fears of Corona And Stimulus
The main stock indices fell on Wall Street at the open Monday, September 21, as fears grew of a new blow to the country’s economy in light of concern about another round of lockdown measures due to the Coronavirus and the ability of Congress to agree on more fiscal stimulus. …
Read More »Gold Drops to Its Lowest Level in Nearly Two Weeks as US Dollar Recovers
Gold prices fell to their lowest level in about two weeks on Monday, with the rise of the dollar, while the pressure on the precious metal increased due to doubts about additional stimulus measures in speech of policymakers at the US Federal Reserve this week. Gold fell in the spot …
Read More »Deutsche Bank: Global Output Will Return to Pre-COVID-19 Levels Mid-2021
Deutsche Bank said Monday, September 21 that global economic output will return to its pre-pandemic level by mid-2021, after a stronger-than-expected economic recovery in recent months, but higher debt levels and a policy shift could increase the risk of a financial crisis. “The global economic recovery from the steepest levels …
Read More »Barclays Raises Its 2020 Oil Price Forecast
On Monday, September 21st, Barclays raised its oil price forecast for 2020 based on possible limited pressure on its demand estimates. The bank increased its forecast for the price of crude in 2020 for both Brent and US West Texas Intermediate crude by $ 2 to $ 43 and $ …
Read More »European Stocks Decline on Fears of a New Lockdown
European stocks fell for the third session in a row on Monday, September 21, weighed by fears of a growing coronavirus infection on the continent and a fall in HSBC and Standard Chartered following reports alleging that the two British banks were involved in the transfer of illicit funds. The …
Read More »Yen Posting 6-month High Against USD, Eyes on Fed
The yen hit a six-month high against the US dollar on Monday, September 21, posting gains for the sixth consecutive session against the US currency as stock markets tumbled. US stocks closed lower on Friday, and stock markets fell in Asia and Europe today, amid growing investor concern about the …
Read More »Oil Prices Falling on possible Return of Libyan Production
Oil prices fell on Monday, September 21, due to the possibility of a return to production in Libya, while increasing cases of Coronavirus fueled concerns about global demand, but a tropical storm heading towards the coast of the states on the Gulf of Mexico limited the losses. Brent crude fell …
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