The single currency rose on Monday to hit a four-month high against the US dollar on traders’ speculation about the European Union summit and the possibility of reaching an agreement regarding a huge recovery fund for the region. EUR/USD rose 0.2% to 1.1443 after reaching a four-month high of 1.1467, …

The current account surplus of the 19 European Union countries shrank to 7.95B Euros in May from 14.27 in April on a large outflow of secondary income, includes transfers between residents and non-residents. In the 12 months to May, the Eurozone current account surplus fell to 2.2% of GDP from 2.7% in the …

European stock markets fell on Monday, with disappointment stemming from evidence that Eurozone leaders are preparing to diminish agreement negotiations on the eurozone recovery fund to counter the pandemic, making it less effective than expected. The German DAX fell 0.4%, French CAC fell 0.6% and FTSE fell 0.8%. Five European …

German Chancellor Angela Merkel warned that EU leaders may not be able to reach an agreement on a stimulus plan to combat Covid-19 on Sunday as negotiations between leaders continue for a third day and tensions over the demands of rich countries escalate. “There is a lot of goodwill, but …

Oil prices retreated on Monday on tensions over a recovery in fuel demand, after Covid-19 cases rose worldwide. Brent crude fell 25 cents, or 0.6%, to $ 42.89 a barrel, while US crude oil (WTI) fell 0.5%, or 22 cents, to $ 40.37 a barrel. More than 14.5M people were …

Asian Shares were underperforming on Monday morning, with oil and copper weakening and the increase of Covid-19 cases driving the markets as they awaited Eurozone and US efforts to reach fiscal stimulus plans to combat the epidemic. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2%, erasing early gains …

FX option expiries for July 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1300 550m1.1350 2.5bn1.1375 1.0bn1.1400 2.6bn1.1425 845m1.1450 617m1.1500 1.1bn – USD/JPY: USD amounts          107.00 476m

The return of tensions between Washington and Beijing was the centre of attention last week, with the increase in COVID-19 cases in the United States to unprecedented numbers, along with the tensions of the American presidential elections and doubts about Trump’s ability to win the upcoming polls amid the increasing …

Key Wall Street indices are set to open higher on Friday, as investors optimistic about more official stimulus to push the post-epidemic economic recovery even with record numbers increasing in COVID-19 cases. Dow e-minis were up 157 points, or 0.59%. S&P 500 e-minis were up 21.5 points or 0.67% and …

Homebuilding in the U.S. increased in June with reports of rising demand for housing in low-density areas as companies allowed employees to work from home due to the pandemic. On Friday, the Ministry of Commerce said housing starts rose 17.3% to a seasonal annual rate of 1.186M. May data was …