Daily Economic Reports

Former Chair of the United States Federal Reserve and President-elect Joe Biden’s nominee for Secretary of the Treasury, Janet Yellen, said on Tuesday that the benefits of the new rescue package, which will increase government stimulus spending by $1.9 trillion, are bigger than its costs. Speaking to the U.S. Senate …

The United States Federal Reserve is planning to maintain its easing policies for the foreseeable future, despite expectations that the new administration, led by the Democratic President-elect Joe Biden, will roll out new massive economic stimulus to help the American economy cope with the complications of the Coronavirus pandemic. Last …

The S&P 500, one of three main indices on the New York Stock Exchange (NYSE), is expected to make gains of about 14% this year, to close 2021 at the level of 4,300 points, as shown by a recent projection by Goldman Sachs picked up by Dow Jones’s MarketWatch. As …

The US dollar strengthened for the third day in a row Monday, January 18th, reaching a four-week high amid a case of risk aversion in the currency markets that pushed the Australian dollar and the British pound down. In light of the closure of the US markets on a public …

The President-elect of the United States, Joe Biden, revealed late yesterday a new government stimulus plan worth $1.9 trillion to help the economy face the effects of the Coronavirus pandemic, under the name “The American Rescue Plan.” The plan will grant a monthly payment of $2,000 per household by adding …

Weekly statistics on fund flows from Bank of America revealed that investors bought shares of financial companies and the energy sector last week, to initiate allocations in centres before US President-elect Joe Biden announced a stimulus package of $ 1.9 trillion. The US investment bank said, based on EPFR data, …

The Chairman of the United States Federal Reserve, Jerome Powell, said on Thursday that the Fed will continue its easing policy, keeping interest rates at record low levels for the foreseeable future, until the American economy recovers from the impact of the Coronavirus pandemic. “When the time comes to raise …

The United States House of Representatives is going through on Wednesday with impeachment procedures against President Donald Trump. This would be the first time in U.S. history that a president is impeached twice. It has been reported that some Republicans in the House are set to vote in favor of …

On the US calendar today, the US consumer inflation numbers for December are due at 13:30 GMT. The headline CPI is expected to rise by 0.4% from 0.2% in November and on an annual basis, it is expected to rise to 1.3% versus 1.2% previously. As for the core CPI …

The dollar suffered losses on Wednesday, as declining US yields weakened the momentum generated by its recent recovery and investors cautiously resumed bets that it could continue to slide. Against the euro, the dollar recorded its biggest daily decline in more than a month and declined more than 1% against …