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, …

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 …

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 …

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 …

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 …

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 …

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

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 …

Chinese manufacturing activity growth slowed this month, dropping to 51 points from 51.1 in July, as floods in southwest China disrupted production. With the recorded slowdown, however, Chinese manufacturing activity remained above 50 points, which is the separating point between expansion and contraction, which indicates that the Chinese economy continues …

Data published by Statistics Canada revealed on Friday that Real Gross Domestic Product (GDP) in Canada declined by 38.7% on a yearly basis in Q2. This reading followed the 8.2% contraction recorded in Q1 but came in slightly better than the market expectation of -39.6%.