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China’s Economy Recovers, PBOC Pausing Stimulus

As the world’s second-largest economy rebounds, People’s Bank of China (PBOC) is pausing its monetary policy easing, Reuters reported, citing four sources on the matter. The report says that the PBOC doesn’t see the need to ease further amid the economic recovery. Earlier this year, China’s central bank took extensive …

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European Stocks Decline

European stocks fell on Wednesday, with earnings reports and traders waiting for the United States to agree its latest stimulus package. At 07:55 GMT, the German DAX edged up 0.5%, the FTSE gained 0.6%, and the French CAC added 1%. A day after European leaders signed the historic € 750 …

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Covid-19 Update: Cases to 15 Million

Reports released on Wednesday morning showed that Covid-19 cases around the world reached 15 million cases, 230 thousand new cases since Tuesday, while about 17 thousand cases were registered this morning, bringing the total to 15,107,017 cases. On the other hand, the death toll has risen to 619,812 cases, while …

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Australia retail sales rose in June

Preliminary data from Australia showed retail sales rose 2.4% MoM in June, compared to May’s 16.9%. Rises in Cafes, restaurants and takeaway food services exceeded 20% MoM for the second consecutive month, while Clothing, footwear and personal accessory retailing rose around 19% MoM

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Japan June Industrial Output is Seen Rebounding

A Reuters poll of 13 economists showed that Japanese industrial output likely rebounded in June, indicating that factory activity may have reached the base of the deep recession caused by the pandemic. A relatively slight recovery in factory production will signal a modest economic recovery in the future. The Ministry …

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US Stocks Open Higher

US stock markets opened higher on Tuesday as the Nasdaq Composite Index reached an all-time high with policymakers prepares proposals for a fifth stimulus package. The Nasdaq rose 48 points, or 0.5%, at 10813, while the Dow Jones rose 208 points, or 0.8%, to 26,889, and the S&P 500 rose …

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GBP/USD Keep Gains Near Weeks High

The GBP/USD rose for the third straight session on Tuesday as the USD continued to sell on the optimism about Covid-19 vaccine and the European Recovery Fund agreement, which weakens the US dollar as a safe haven. GBP/USD jumped to more than 1.2700 levels, six-week highs, but then retreated somewhat. …

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