Daily Economic Reports

The United Kingdom (UK) has no intention to extend the Brexit transitional period, which ends on December 31 in order to allow more time for negotiations with the European Union (EU), as expressed by a spokesperson for the British Prime Minister Boris Johnson. The First Minister of Scotland, Nicola Sturgeon, …

A survey on Monday showed that UK retail sales rebounded in December with restrictions on stores eased and consumers buying food and other essentials before Christmas, but the outlook for January is the worst since summer. The monthly report of the Confederation of British Industries showed that the balance of …

The British pound and the euro fell on Monday, as investors searched for a safe haven in the dollar after a new fast-spreading strain of the Coronavirus caused the closure of most parts of Britain and disrupted international shipping activity in light of the fog surrounding Brexit from the European …

It is now very likely that a no deal Brexit will be completed by the end of the year, a spokesman for the British Prime Minister Boris Johnson said on Thursday. Talks are in a serious situation and there is no room for an agreement unless the European Union (EU) …

The dollar exacerbated its losses, after a week of declining pushing it to its lowest level in two and a half years, as its decline attracted more short sellers seeking to make an easy profit. The dollar index recovered during the session and rose in recent trading 0.2% at just …

British retail sales fell last month when a four-week lockdown in England caused stores selling non-essential goods to close, dropping clothing sales by about a fifth and adding to the hardships in some of the main stores hit hardest. The Office for National Statistics said retail sales volumes overall fell …

Gold prices retreated as the dollar rebounded after growing hopes of approval of stimulus in the United States led gold to rise for three days, putting the yellow metal on the path of achieving gains for the third week in a row. And gold in spot transactions fell 0.1% to …

Japan’s Nikkei index closed lower on Friday on concerns about the risks that a surge in COVID-19 cases in Tokyo posed to the prospects for a recovery in the world’s third-largest economy, but the index made weekly gains. The Nikkei index lost 0.16% to 26,763.39 points, while the broader TOPIX …

The dollar hit its lowest level in two and a half years against major rival currencies on Thursday (December 17th), as risk appetite was boosted by progress towards agreement on a stimulus package in the United States and an accord linked to Britain’s exit from the European Union. On Wednesday, …

The United States Federal Reserve vowed in its last policy statement of 2020 to support the economy until it recovers from the Coronavirus crisis. The Fed is set to continue to buy at least $120 billion of bonds each month until substantial further progress has been made toward the Committee’s …