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Australia: Retail Sales Better Than Expected

Data released by the Australian Bureau of Statistics this morning showed that the retail sales index posted better-than-market expectations, rising by 4.1% in July compared to 3.3 in June. This indicator is a measure of consumer spending, which represents the majority of economic activity in general and affects the stock …

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Turkey’s Economy Contracted by 10% in Q2

Data showed that Turkey’s economy shrank 9.9% in Q2 of the year, as the general lockdown due to the Coronavirus pandemic caused an almost complete halt of economic activities, representing the worst performance on an annual basis in ten years. According to the Turkish Statistical Institute, the decline in GDP, …

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Weekly Recap 24-28 AUG

Fed Chair Jerome Powell’s speech was what got most of the attention last week. Fed Chair’s comments included announcing a shift in monetary policy to support the labor market and the economy indicating that the Fed may keep low-interest rates for longer. The Dow Jones rose 0.6% to 28,653.8, posting …

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