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The United States Federal Reserve has maintained interest rates near 0%, noting that the American economy is still below its pre-COVID-19 levels.
Read More »US Fed Reserve Maintains Interest Rates
US: Weekly Initial Jobless Claims Decline to 751K
There were 751,000 initial claims for unemployment benefits in the US during the week ending October 31st, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 758,000 (revised from 751,000) and came in worse than the market expectation of …
Read More »US: Challenger Job Cuts Decline to 7-Month Low in October
Planned job cuts in the US-based employers declined to 80,666 in October from 118,804 in September, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. “October’s total is 32% lower than the 118,804 cuts announced in September,” the publication read. “It is 60% higher than the 50,275 …
Read More »BOE Minutes: The Level of Activity in The First Quarter is Expected to Remain Materially Lower Than in 2019 Q4.
Following the BOE’s policy announcement, the central bank released the minutes of the meeting, with the key highlights found below (via Reuters). “Market participants attach some weight to the possibility of a negative bank rate.The market path for interest rates averages zero over the forecast period.Market-implied path for bank rate …
Read More »BOE Leaves Rates Unchanged, Expands QE by £150 Billion
The Bank of England’s (BOE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its November policy meeting, as the second nationwide lockdown kicks-in this Thursday. The BOE expanded the Quantitative Easing (QE) program by £150 billion to £895 billion. Sees UK GDP -11% …
Read More »US Private Sector Employment Rises by 365K in October
Employment in the US private sector rose by 365,000 in October, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading followed September’s increase of 753,000 (revised from 749,000) and missed the market expectation of 650,000 by a wide margin.
Read More »Democrat Joe Biden Leads in Arizona
Former Vice-President Joe Biden has won Arizona. He is leading against President Donald Trump by a large margin in the southwestern state. Joe Biden is losing ground in battleground Florida, which is now called for President Donald Trump. In Arizona’s Senate race, Democrat Mark Kelly won against Republican incumbent Marhta …
Read More »EU Commission: No Solution With Britain on Fisheries Yet
A spokesperson for the European Commission said on Tuesday that they have not yet found a solution on fisheries with Britain, as reported by Reuters. “Britain has not replied in time to the EU letter concerning the breach of the Withdrawal Agreement,” the spokesperson added. “The Commission will consider the …
Read More »General Lockdown Returns to Britain for 4 weeks
British Prime Minister Boris Johnson announced Saturday, October 31, that England will adopt a second general lockdown with the spread of Coronavirus cases in the United Kingdom, which leads to the closure of all non-essential businesses, leaving schools open until December 1 while trying to suppress the virus. . Johnson …
Read More »US: Personal Income Rise by 0.9% in September vs. 0.4% Expected
Personal Income in the US rose by 0.9% on a monthly basis in September following August’s contraction of 2.5%, the US Bureau of Economic Analysis reported on Friday. This reading came in slightly better than the market expectation for an increase of 0.4%. Further details of the report revealed that …
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