Data from the Turkish Statistics Institute showed that the country’s foreign trade deficit decreased by 18.2% year on year in July to $ 2.697 billion, according to the general trade system. The institute said that Turkey’s exports decreased by 5.8% and imports decreased by 7.9% compared to July 2019, reflecting …
Read More »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 …
Read More »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, …
Read More »Dollar Drifts Toward Worst Aug in 5 Years
The dollar is heading to record a loss for the fourth consecutive month after a shift in the US Federal Reserve’s policy on inflation, while the euro is poised to record a fourth month of gains, which puts the two currencies at levels not seen since 2018. Investors are adapting …
Read More »Gold Falling as US Dollar Decline Stops
Gold reversed its trend to decline on Monday, August 31, as the dollar recovered some of its losses, despite the US Federal Reserve’s new policy framework, which indicates that interest rates will remain near zero for a longer time, has limited the losses of the yellow metal, which is considered …
Read More »European Shares Open Stronger on Oil Gains
European stocks opened higher on Monday, August 31, as heavyweight oil and gas companies were supported by higher crude prices, while positive service sector data from China boosted optimism about an economic recovery. The Stoxx600 index of European shares rose 0.4% in early trading, consolidating the small gains made last …
Read More »Nikkei Rises on Hopes of Continuing Abe’s Policies
Japanese stocks closed higher on Monday, August 31, recovering from heavy losses seen in the previous session, as concerns over the resignation of Prime Minister Shinzo Abe eased thanks to speculation that his potential successor will continue his current policies. The benchmark Nikkei Index rose 1.12% to 23,139.76 points, and …
Read More »AIIB Agrees to Lend Turkey 70 million Euros to Fight COVID-19
The Asian Infrastructure Investment Bank, backed by China, has said it will loan Turkey 70 million euros, equivalent to $ 83.37 million, to help it cope with the Covid-19 pandemic. A bank statement said that the European Bank for Reconstruction and Development will participate in financing the project, which aims …
Read More »FX Option Expiries For Aug 31 NY Cut
FX option expiries for Aug 31 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 536m1.1800 1.1bn1.1900 1.4bn – GBP/USD: GBP amounts 1.3250 272m – USD/JPY: USD amounts 104.50 378m105.00 754m105.25 575m105.75 457m106.00 438m
Read More »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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