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The International Energy Agency has revised its oil demand forecast for 2020 by 8.1 million barrels per day, warning that reducing air travel due to the Coronavirus will reduce global oil demand. The Paris-based International Energy Agency lowered its forecast for 2020 by 140,000 bpd to 91.9 million bpd, the …

OPEC said that global oil demand will decline further in 2020 due to the Coronavirus pandemic, and added that the recovery next year will face great uncertainty, indicating growing adverse factors for the organization and its allies in supporting the market. The Organization of the Petroleum Exporting Countries (OPEC) said …

Real average hourly earnings in the US decreased by 0.4% on a monthly basis in July. US Dollar Index dropped below 93.50 after this report.Real average hourly earnings for all employees in the US declined by 0.4% from June to July (seasonally adjusted), the US Bureau of Labor Statistics reported …

Consumer prices in the US rose more than expected in July, but rising unemployment will likely keep inflation under control, allowing the Federal Reserve to continue pumping liquidity into the economy to help it recover from the recession caused by the Covid-19 pandemic. The US Labor Department said its consumer …

Official data showed an increase in industrial production for the euro area in June, but the recovery that came after record declines in March and April caused by the Coronavirus pandemic was below expectations for the second month in a row and slower than May. The increase in industrial production …

The Producer Price Index (PPI) in the US for final demand rose from -0.2% in June to 0.6% in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. On a yearly basis, the PPI edged up to -0.4% and came in higher than the market …

Russian President Vladimir Putin said that the Russian Ministry of Health has given its approval to the world’s first vaccine to combat Covid-19 disease, which was developed by the Gamaleya Institute in Moscow, less than two months after it was tested on humans. This step paves the way for large-scale …

The eurozone Sentix Investor Confidence gauge has risen from -18.2 to -13.4 points in August, beating expectations for -15.2 points as the old continent emerges from the COVID-19 crisis. The broad survey continues its uptrend from the lows seen in April when infections were at their peak. Nevertheless, it remains …

The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) rose in July to 68.5 from 58.2 in June, exceeding market expectations, Reuters reported. Data provides another signal for economic recovery from the impacts of the COVID-19 pandemic. This comes two months after the index registered a record low of 22.8 …

The unemployment rate in Canada fell to 10.9% in July, from 12.3%, as shown by official data on Friday. Market analysts were expecting an 11% unemployment rate, according to a recent Bloomberg survey. However, with the number of new jobs exceeding forecasts, unemployment declined more than expected.