An internal OPEC + report seen by Reuters showed that some members of the group of oil-producing countries will need to reduce production by an additional amount of 2.31 million barrels per day to compensate for the recent excess supplies. The report said that the surplus recorded in the period …

The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey dropped to 17.2 in July from 24.1 in June. This print came in worse than the market expectation of 21.

There were 1,106,000 Initial Claims for unemployment benefits in the US during the week ending August 15th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 971,000 (revised from 963,000) and came in worse than the market expectation of …

Employment in Canada increased by 1,149,800 from June to July, the monthly data published by the ADP Research Institue revealed on Thursday. Meanwhile, June’s reading of +1,042,900 got revised down to -1,764,600.  “The job market posted employment growth in July as businesses started to reopen,” said Ahu Yildirmaz, vice president and …

The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it left its policy (one-week repo) rate unchanged at 8.25%. With the initial market reaction, the USD/TRY pair fluctuated wildly. After dropping below 7.2700, USD/TRY rose sharply and was last seen gaining 0.55% on the day at …

The United States and China have agreed to return to the negotiating table in the coming days to review progress on the “phase one” trade agreement, according to the Chinese Ministry of Commerce. The ministry said the two sides would hold a “discussion by phone.” This comes after the talks …

The dollar rose Thursday, August 20, from its lowest level in two years, after a record less inclined to monetary easing than expected from the US Federal Reserve, which led to an appetite for buying the US currency, which recorded the highest increase in one day since June. The dollar …

The Chinese Ministry of Commerce said that Beijing will take “all necessary measures” to protect the legitimate interests of its companies, in response to the US move this week to tighten restrictions on Huawei. The administration of US President Donald Trump expanded the restrictions announced in May aimed at preventing …

Japanese stocks fell at the close Thursday, August 20, affected by Wall Street losses after the US Federal Reserve meeting minutes revealed that policymakers are concerned about the uncertainty surrounding the path of the economic recovery from the Coronavirus pandemic. The Nikkei index fell 1% to close at 22,880.62, the …

Oil prices fell on Thursday, August 20, as major producers warned of a threat to recover demand if the Coronavirus crisis continues for a long time, while US crude stocks fell less than expected. By 07:32 GMT, Brent crude was down 34 cents, or 0.8%, to $ 45.03 a barrel. …