Daily Economic Reports

The Bank of Canada is widely expected to keep the interest rate unchanged at 0.25% at its meeting on Wednesday, with Bank of Canada Governor Tiff Macklem recently indicating that the bank will not raise rates Until 2023. The Canadian dollar hit 1.2994, its highest against the US dollar on …

The US Dollar (USD) showed strong recovery signs on Wednesday from near its lowest level in two years on the back of strong economic data in the US, coupled with the decline of the Euro with a surprise decline in German retail sales, and the Sterling Pound, with the British …

Japanese stocks fell by the most in nearly a month on news that Japanese Prime Minister Shinzo Abe will resign, putting an abrupt end to a stable government and policy mix of strong monetary and fiscal stimulus. The benchmark Nikkei index fell 2.65% during the session before closing 1.41% lower …

The yen jumped from its lowest level in two weeks, following news that Japanese Prime Minister Shinzo Abe is preparing to resign, while the dollar is struggling to make progress against other currencies as prospects for a prolonged low US interest rate weigh on the currency. A source close to …

Brent crude prices rose on Wednesday, August 26th, supported by US producers halting most of the offshore production from the Gulf of Mexico before Hurricane Laura and optimism about Sino-US trade talks. Gains were limited by renewed fears about the Coronavirus pandemic, which reduced demand for fuel after reports of …

Oil prices rose, and is on the path of achieving gains for the third week in a row, as it was strengthened by the efforts of major crude producers to cut production in light of concerns about the economic recovery from the Coronavirus pandemic. US West Texas Intermediate crude futures …

Britain’s public debt exceeded 2 trillion pounds ($ 2.65 trillion) for the first time, underscoring the challenge facing Finance Minister Rishi Sunak, who is under pressure to provide more emergency support for the economy ravaged by the coronavirus pandemic. Net debt in July, which excludes public banks, rose to £ …

British retail sales rose above pre-coronavirus levels in July, the first full month that stores selling non-essential goods opened their doors since the country went into lockdown measures in March. The strong unexpected retail sales data reveals strength in consumer demand even as the rest of the economy struggles to …

The release of the Federal Reserve July meeting minutes dominated the market today, helping the USD go higher and, accordingly, gold closing lower. Meanwhile, expectations by the monetary policymakers that the COVID-19 health crisis will weigh on the economy led to Wall Street closing in red, while oil prices showed …

It was another weak day for the U.S. Dollar due to selling pressures and a decline in the Treasury Yields, but Wall Street was soaring with tech stocks making big gains and leading the S&P 500 index to finally close at a new record level, recovering all of its losses …