US consumer spending increased more than expected in July, bolstering expectations of strong economic growth recovery in Q3, although the momentum will likely subside as the Covid-19 pandemic continues and the impact of the fiscal stimulus dissipates. The US Commerce Department said consumer spending, which accounts for more than two-thirds …

A survey showed that British business confidence has increased but remains well below its usual levels as the economy struggles to cope with social distancing and employers prepare to cut jobs. The Lloyds Bank’s corporate measure rose eight points to -14, the largest monthly rise in three years and optimism …

A survey published by the European Commission revealed that economic sentiment in the Eurozone rose in August for the fourth consecutive month after a record decline stemming from lockdown measures aimed at slowing the spread of Covid-19 in March and April. And while the monthly index measuring confidence in the …

Data from the Turkish Statistical Institute showed that the country’s economic confidence index rose 4.4% on a monthly basis in August to 85.9 points, recording a recovery for the fourth month in a row from low levels resulting from measures to combat the Coronavirus. Economic activity fell sharply in March …

European shares fell as investors sold off technology and healthcare and bought bank shares, after the Federal Reserve (US Central Bank) unveiled a new framework for its policy. The pan-European STOXX 600 index fell 0.6%. Technology stocks, which have risen nearly 11% since the start of the year, fell 1.1% …

Gold rose about 1%, as the dollar fell while investors held signs of a policy of monetary easing issued by Jerome Powell, Chairman of the Federal Reserve Board (the US Central Bank). Spot gold rose 0.9% to 1946.55 dollars an ounce with the close of the Tokyo Stock Exchange, after …

A survey showed that consumer sentiment in Germany deteriorated towards September, casting some doubt on whether household spending in Europe’s largest economy is strong enough to lead a robust recovery from the Covid-19 crisis. The GFK said its consumer sentiment index, which is based on a survey of nearly 2,000 …

Japanese stocks fell by the most in nearly a month on news that Japanese Prime Minister Shinzo Abe will resign, putting an abrupt end to a stable government and policy mix of strong monetary and fiscal stimulus. The benchmark Nikkei index fell 2.65% during the session before closing 1.41% lower …

The yen jumped from its lowest level in two weeks, following news that Japanese Prime Minister Shinzo Abe is preparing to resign, while the dollar is struggling to make progress against other currencies as prospects for a prolonged low US interest rate weigh on the currency. A source close to …

Reuters quoted a source as saying that Japanese Prime Minister Shinzo Abe has decided to resign. Japan Broadcasting Corporation TV (NHK) had previously reported that Abe, who has been suffering from ulcerative colitis for years, wanted not to cause problems to the government due to his deteriorating health.