The United States Federal Reserve’s Beige Book showed on Wednesday that the U.S. economy grew at a moderate pace in April and May. The report highlighted expansion compared with the corresponding period of last year, as consumer spending rose on the back of stimulus packages and the rollout of coronavirus …

European stocks finished higher on Wednesday, hitting a new all-time record high, amid improves investors’ sentiment towards economic recovery from the pandemic. The STOXX 600 Europe index gained 0.28% to close at 451.34 points. Meanwhile, the French CAC40 index rose by 0.50% to finish at 6,521.52 points. The German DAX …

The European Central Bank (ECB) said on Wednesday that creating a digital Euro (EUR) could boost global demand for the currency, making it easier for broader use, Reuters reported. “Safety, low transaction costs and bundling effects, could ease international adoption of a currency.” “Transparency or selective privacy would enable better …

Jens Weidmann President of the Deutsche Bundesbank, Member of the Governing Council of the European Central Bank (ECB) said on Wednesday that ECB might be moving towards reducing its bond purchases from polluting companies, within the massive stimulus program. The move signals a change in Weidmann’s position regarding an active …

The United States Federal Reserve might need to start thinking about how and when to reduce the large asset purchases, as the economy recovers from the Coronavirus pandemic, President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Wednesday. “We are planning to keep the federal funds rate …

The New York Stock Exchange (NYSE) finished Tuesday’s trading session on a mixed note, failing to maintain its earlier gains that came on the back of positive expectations in Wall Street due to the release of positive economic data. Positive reading of the ISM manufacturing sector’s PMI helped technology stocks …

Oil futures registered gains on Tuesday, with markets positively reacting to the Organization of the Petroleum Exporting Countries’ (OPEC) and its OPEC+ allies deciding to commit to the current easing cycle of output cuts that was agreed in response to the Coronavirus crisis. Brent crude futures for August delivery gained …

The labor market in the United States might be showing some positive signs as the economy recovers from the coronavirus pandemic, but it remains to be challenged by some problems some of which might be unnoticed. A paper by the Federal Reserve Bank of San Francisco showed on Tuesday that …

Gold prices registered small losses on Tuesday, maintaining the $1,900 level, as the U.S. Dollar (USD) declined across the board. The yellow metal futures for August delivery closed lower by 30 cents, or 0.02%, at $1,905 per ounce. A rise in U.S. Treasury bond yields impacted gold’s trading today, following …

The United States Federal Reserve Governor, Lael Brainard, said on Tuesday that there is progress towards achieving the central bank’s maximum employment and 2% inflation targets. However, Brainard pointed to the challenge of not tightening monetary policy sooner than needed. “We are seeing welcome progress, and I expect to see …