Manufacturing activity in the United States expanded during July, as shown by the Institute for Supply Management’s (ISM) data on Monday. The ISM industrial activity index registered 54.2 in July, compared with 52.6 in June. This is the best reading for the index since March 2019.

Construction spending in the United States declined in June to its lowest level in a year, as shown by the data of the U.S. Department of Commerce. Construction spending decreased by 0.7% to $1.355 trillion, May’s reading was revised from a 2.1% decline to 1.7%.

The number of initial jobless claims in the United States increased by 12,000 to a total of 1.43 million kast week, as show by the data of the US Department of Labor on Thursday. This is the second consecutive weekly rise in claims for unemployment benefits. Last month, data by …

The United States economy saw its worst quarter on record, after the gross domestic product (GDP) contracted by around 33% during the second quarter (Q2) of 2020, due to the COVID-19 pandemic. Preliminary data by the US Department of Commerce showed that GDP declined by 32.9% on an annual basis. …

The President of the United States, Donald Trump, has suggested delaying the 2020 presidential elections, which is set to take place next November, due to the COVID-19 pandemic. Trump has called in a tweet on Thursday for delaying the elections “until people can properly, securely, and safely vote.” The US …

The Euro is showing a mixed performance against major currencies on Wednesday, following data showed the German economy’s biggest contraction on record and an improvement in the Eurozone economic sentiment. Although the EUR is maintaining some gains against commodity currencies, it is declining across the board. EUR is down to …

The US Dollar (USD) is recovering on Thursday from some of its recent losses, which brought the greenback to its lowest level in nearly two years. The USD is trying to gain some support from the recent remarks by the US Federal Reserve that reiterated the commitment to support the …

Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …

Economic sentiment in the Eurozone rose more than expected in July to 82.3 points from a revised reading of 75.8 in June, according to data by the European Commission. The improvement comes amid the easing of lockdowns and preventive measures against the coronavirus disease (COVID-19). The industry sentiment recorded -16.2 …

Today’s biggest event was the conclusion of the US Federal Reserve two-day meeting, which as expected decided to maintain interest rates near 0% and vowed to maintain the historically low rates until the economy recover from the impact of the COVID-19 crisis. Meanwhile, gold continues to make history with new …