Daily Economic Reports

Oil prices recovered after a 1% drop in the previous session, with the support of positive economic data from China and the United States, but the outbreak of the Covid-19 pandemic in India put pressure on prices. Brent crude futures for July delivery were at $68.40 a barrel, up 31 …

The Bank of England (BoE) decided to maintain the record low-interest rates during its monetary policy meeting on Thursday. The benchmark interest rate was maintained at its all-time low level of 0.1%. BoE also revised upwards its expectations for economic growth in the United Kingdom (UK) this year, as the …

Gold prices rose on Wednesday after declining yesterday due to comments about the U.S. Treasury Secretary that suggested nearing an interest rate hike. The U.S. Secretary of the Treasury, Janet Yellen, is also the former leader of the Federal Reserve. She was the central bank’s first Chairwoman. Yellen walked back …

Business activity accelerated in the euro area last month, as the dominant service sector in the region ignored renewed lockdown measures and resumed growth, according to a survey on Wednesday that also indicated that companies are facing rising raw material costs. Europe is facing a third wave of the Coronavirus, …

The dollar tried to extend its gains Wednesday May 5th amid talk of a possible US interest rate hike and a wave of tech stocks selling undermining risk appetite. Yesterday’s recovery in the dollar pressured the euro, which fell to $1.2021 and threatens to break an important support range between …

The main indices of the New York Stock Exchange (NYSE) showed a mixed performance on Tuesday, amid concerns among Wall Street investors about the prospects of higher interest rates. The tech sector continued with a downward trend after the U.S. Treasury Secretary suggested raising interest rates might be needed to …

Gold prices fell from their highest level in more than two months today, Tuesday, as the dollar’s recovery limited the metal’s appeal as a safe haven, while investors speculate that the US economic recovery at a faster than expected pace may lead to a hike in interest rates. And gold …

The dollar has turned higher in Asian trading, halting a month-long downturn, as investors are working to see if the major US economic recovery may push interest rates higher, as they await upcoming economic data and policy speeches for indicators. The US currency rose 0.2% against the yen, euro and …

The Chairman of the United States Federal Reserve, Jerome Powell, said on Monday that the U.S. economy is improving but still on the way to fully recover from the coronavirus pandemic. “We are not out of the woods yet, but I am glad to say that we are now making …

Today, Monday, the dollar clung to its recent rally, as investors were cautious at the start of a week full of central bank meetings and important US economic data to elicit indications of global inflation outlook and the reactions of policymakers. Trading was limited due to a holiday in both …