The Dollar Index (DXY), which measures the performance of the U.S. Dollar (USD) against a basket of six major currencies, continued its downward trend on Wednesday. DXY settled lower by 0.21% at 93.43, after moving throughout the day between 93.27 and 9.91 and closing Tuesday at 93.63. The absence of …

The Swiss Franc (CHF) is showing a strong performance across the board, rising against most of the major currencies, supported by an increased demand for safe havens. The CHF is up by 0.52% against the U.S. Dollar (USD), with the USD/CHF pair trading at ‪0.91186. Similarly, the CHF is up …

Oil prices increased on Wednesday, reaching their highest level in about five months, supported by the decrease in U.S. crude inventories. Brent crude futures for October delivery settled higher by 93 cents, or 2.1%, at $45.43 per barrel, its highest closing level since March 5. Meanwhile, the West Texas Intermediate …

Gold prices seem to have recovered from a strong correction wave on Tuesday, after closing higher on Wednesday, which reflects the high demand for the precious metal as a safe haven. According to market analysts, the losses of Tuesday were also due to an increase in the U.S. Treasury yields. …

The United States federal budget deficit declined to $63 billion in July, compared with $864 billion in June, Reuters reported. This is attributed to a delayed payment deadline on July 15, which boosted revenues last month. Deficit since the beginning of 2020 to the end of July stands at $2.81 …

Americans must learn how to live with the virus and follow the preventive health measures to ensure the pandemic is contained and so that the economy remains open, according to the President of the Federal Reserve Bank of Dallas, Robert Kaplan. “If we don’t follow that, while people may feel …

Economic recovery in the United States is largely dependent on the situation of the COVID-19 Pandemic, according to the President of the Federal Reserve Bank of Boston, Eric Rosengren. Rosengren expects consumer spending to remain weak as the economy struggles with the pandemic, Reuters reported. “I would say that taking …

The United States economy does not near a huge stimulus package, according to the White House economic adviser, Reuters reported. The Director of the National Economic Council, Larry Kudlow, said on Wednesday that the economy’s numbers and figures are improving, despite a recent increase in COVID-19 cases. “The executive orders …

Democrats and Republicans in the United States Congress are strongly disagreeing about the details of a new economic stimulus package. The Democrats are proposing around $3 trillion in funding, while Republicans do not to spend around $1 trillion. According to the Speaker of the House, Nancy Pelosi, the two parties …

European stocks continued with the upward trend on Wednesday, as the STOXX Europe 600 index closed up by over 1.14%. Most of the market sectors registered gains, with telecom, travel, and entertainment stocks showing strong performance. The FTSE100 index gained 2.04%, supported by positive economic data in the UK. Meanwhile, …