The European Union has agreed to purchase 300 million doses of the Coronavirus vaccine for the pharmaceutical company “AstraZeneca” as soon as it becomes available, according to the Commission. The European Commission, which is negotiating on behalf of all 27 EU member states, said the deal includes an option to …
Read More »China is Stepping up US Oil Purchases Before Reviewing Trade Agreement
American and Chinese importers and dealers told Reuters that crude oil shipments from the United States to China will rise dramatically in the coming weeks, as the two largest economies in the world prepare to review an agreement signed in January after a long trade war. They said that Chinese …
Read More »FX Option Expiries For Aug 17 NY Cut
FX option expiries for Aug 17 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1900 937m – GBP/USD: GBP amounts 1.3090 623m – USD/JPY: USD amounts 105.50 534m105.65 624m 106.02 438m – NZD/USD: NZD amounts 0.6575 301m
Read More »Weekly Recap 10-14 AUG
Optimism regarding the development of a vaccine of Covid-19 continued to dominate the markets. Also, Democratic and Republican parties failed to reach an agreement on the second stimulus and financing package of Coronavirus. The US currency suffered heavy losses during last week’s, to record a decline for the eighth consecutive …
Read More »US Retail Sales Increased Less Than Expected in July
US retail sales increased less than expected in July and may slow further in the coming months due to a spike in new COVID-19 cases and a drop in unemployment benefits. The US Commerce Department said retail sales rose 1.2% last month, down from a 8.4% advance in June. Economists …
Read More »Eurozone Trade surplus Rises, GDP And Employment Record a Historic Low
The eurozone’s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc’s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic. The European statistics office Eurostat said …
Read More »European Shares Fell Due to The Decline in Tourism Shares
European stocks fell as tourism stocks took a hit after Britain added more European countries to its list of quarantine areas for arrivals, while disappointing retail sales data from China raised doubts about the pace of the economy’s recovery. The pan-European STOXX 600 index fell 0.8%, but is on track …
Read More »Dollar Gaining Support on Coronavirus And Chinese Data
The dollar stabilized as a jump in US Treasury yields and a drop in sentiment due to weak economic data from China put an end to the global reserve currency sell-off. Retail sales in China continued to decline for the seventh month in July unexpectedly, and industrial production missed expectations, …
Read More »Germany: Economy Will Grow Strongly in Q3
The Economy Ministry said that Germany’s economy, which has been hit hard by the Coronavirus pandemic, will grow strongly in Q3 but that a full recovery will take a long time. The ministry added in its monthly report that Europe’s largest economy has been recovering since May thanks to easing …
Read More »French Government: Paris is a High-Risk Area Again
According to a decree published on Friday, the French government has declared the capital, Paris, and the Bouches-du-Rhone region around Marseille on the Mediterranean coast, “red” areas where the chances of infection with the Coronavirus are high. The decree gives local authorities the power to control the movement of people …
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