Daily Economic Reports

The Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve, according to the United States Energy Information Administration (EIA). Reduced economic activity related to the COVID-19 pandemic has caused changes in energy demand and supply patterns in 2020 and will continue …

The dollar incurred losses on Wednesday, November 11, as concerns about how the Covid-19 vaccine would be distributed over optimism about it, as well as the growing number of infections with the Coronavirus that causes the disease in the United States. The New Zealand dollar recovered from initial losses to …

The European Union (EU) and the European Parliament have agreed on the details of the next European budget with a total value of EUR 1.8 trillion, it was reported on Tuesday. The 2021-2027 EU budget will include a new recovery package for curbing the impact of the Coronavirus (COVID-19) crisis. …

There was no change to NFIB US Business Optimism Index, which stood at 104 in October of 2020, the same figure as the previous month. While it came higher than market expectations, which settled at 102.2. The last two readings are the highest since January and are among the highest …

The yen recouped some of its losses against the dollar today, Tuesday, after it recovered due to news about developments in a Coronavirus vaccine that sparked optimism for the global economic recovery. The American company Pfizer for pharmaceutical industries and its German partner BioNTech announced that large-scale clinical trials have …

The dollar reached its lowest level in ten weeks on November 9 as investors heralded the election of Joe Biden as President of the United States by buying currencies exposed to trade thanks to expectations that a quieter administration in the White House will boost global trade and that monetary …

US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …

The dollar stabilized against several currencies on Friday, but traders say it is likely to incur more losses as the controversial US presidential election dashes hopes of a major stimulus to support the economy anytime soon. Investors are betting that Democratic candidate Joe Biden will become the next president, but …

The United States Federal Reserve has expressed commitment to using its full range of tools to support the economy in the face of the Coronavirus crisis. The target range for the federal funds rate has been kept at 0% to 0.25% and the Fed expects it will be appropriate to …

The US dollar weakened against major currencies on Thursday as uncertainty over the US presidential election persists. This morning the euro was trading at 1.1799 against the dollar. The EUR/USD recently jumped to a weekly high above 1.18 as investors are optimistic about Biden’s victory in the elections. In the …