Daily Economic Reports

The dollar reached its highest level against the yen in 7 months today, Thursday, as it received support from a more regular rise in US Treasury yields ahead of a speech by Jerome Powell, the head of the US Federal Reserve, that may determine the direction the global currency and …

The United States Federal Reserve’s Beige Book for February 2021 showed that overall economic activity expanded modestly from January to mid-February for most districts, which reflected in improved business confidence, as most businesses remain optimistic regarding the next 6-12 months. The optimism is driven by the rollout of Coronavirus vaccines, …

Sources in OPEC+ told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are considering extending oil production cuts from March to April instead of increasing production due to the fragility of crude markets due to continuing concerns about the Coronavirus …

The dollar, which is generally considered a safe haven, remained weak on Wednesday, March 3rd, as Treasury yields continued to decline, restoring some calm to global markets and sparking renewed demand for riskier assets. Riskier currencies, including the Australian dollar and the Norwegian kroner, held onto the two-day streak of …

The United States is debating the $1.9 trillion stimulus package, as proposed by President Joe Biden, after the House of Representatives passed the relief bill. Democrats are expected to pass the “American Rescue Plan” bill through the reconciliation option, which allows approving the bill with a simple majority without any …

The currency markets witnessed a lot of fluctuations in February, as the US dollar fell sharply over the past month, to fall to its lowest level in nearly two months against a basket of major currencies but quickly returned to correct its course, supported by high bond yields. The dollar …

The National Retail Federation (NRF) expects retail sales in the United States to grow by a rate of 6.5% to 8.2% this year, exceeding $4.33 trillion in volume. The expectation comes as the American economy is recovering from the impact of the Coronavirus pandemic, with the rollout of vaccines set …

The United States House of Representatives will vote on the American Rescue Plan Bill on Friday, according to House Majority Leader Steny Hoyer. “The American people strongly support this bill, and we are moving swiftly to see it enacted into law,” Hoyer recently tweeted. The bill includes raising unemployment insurance …

The Pan American Health Organization said on Wednesday that the number of cases and deaths of Covid-19 in the United States decreased 30% in the past week and is declining in most South American countries, but the effect of vaccines will take months. WHO director Carissa Etienne urged governments and …

The US dollar sat near its lowest level in three years against riskier currencies on Thursday, February 25th, as signs of a continued easing of monetary policy by the US Federal Reserve sparked trading in assets that are rising thanks to the improvement in the economic cycle. The US currency …