The British economy is facing a risk of taking several years before recovering from the impacts of the coronavirus (COVID-19) crisis, according to member of the Bank of England’s (BoE) Monetary Policy Committee, Gertjan Vlieghe. Vlieghe remarks came on Wednesday in a report presented to the British parliament, Reuters reported. …

European stocks closed higher on Wednesday, despite a surprise fall in retail sales in Germany, amid an improved risk appetite and investors sentiment with recent surges in Wall Street. The Stoxx Europe 600 finished higher by 1.66%, while the UK’s FTSE100 gained 1.35%. In France, the CAC40 index increased by …

The US Dollar (USD) is showing a strong performance against major currencies on Wednesday, supported by strong economic data. The US Dollar Index (DXY), which measures the performance of the USD against a basket of six international currencies, is up by 0.50% at 92.80, after closing Tuesday at 92.34. This …

Germany’s Minister of Finance, Olaf Scholz, said on Wednesday that the European economy will recover from the impacts of the COVID-19 crisis, but might face some hardships in the near term, Reuters reported. “Europe has dealt with a historic challenge and has provided a very good response, has shown solidarity …

New factory orders in the United States rose by more than expected in July, according to data by the US Department of Commerce. Factory orders increased by 6.4% in July, while a recent poll by Reuters forecast a growth of 6%. The indicator signals a strong recovery from the coronavirus …

The Central Bank of Russia could soon cut interest rates once more to cope with the hardships of the COVID-19 crisis and the inflation risks, according to a market poll reported by Reuters. The move would strengthen the Russian Rouble (RUB) as Moscow aims at restoring economic recovery next year …

The New York Stock Exchange (NYSE) closed higher on Tuesday, supported by positive economic data that showed a rebound in the manufacturing sector. The Dow Jones Industrial Average increased by 215.61 points or 0.8% and closed at 28,645.66 points. S&P 500 gained 26.34 points or 0.8% and finished at a …

Oil prices closed Tuesday higher as positive data for the manufacturing sector in the United States and Canada improved the energy demand outlook. The global benchmark Brent crude futures for November delivery finished higher by 30 cents, or 0.7%, at $45.58 per barrel. Meanwhile, the US West Texas Intermediate (WTI) …

Gold prices closed higher on Tuesday despite giving up some of its earlier higher gains, with the US Dollar (USD) recovering from from its lowest level in nearly two years on the back of strong manufacturing activity data. Gold futures for December delivery finished marginally higher by 30 cents, or …

The Euro (EUR) turned to decline against the US Dollar (USD) after rising earlier today to its highest level since 2018. The EUR/USD pair is trading lower by 0.15% for the day at 1.1918. Earlier today, the pair reached the 1.2011, exceeding the 1.2 mark for the first time in …