Daily Economic Reports

The United Kingdom (UK) is ready to reach a trade agreement with the European Union (EU) but not at any cost, the British finance minister said on Thursday. The transition period, during which the two parties are supposed to reach a trade deal for the post-Brexit era, expires in about …

The dollar fell on Thursday, November 26, as negative US economic data and optimism about coronavirus vaccines prompted investors to turn to more risky currencies associated with global commodities and emerging markets. The British pound traded near its highest level in more than two months against the dollar, as investors …

The Society of Motor Manufacturers and Traders in Britain said that Britain’s production of cars fell at an annual rate of 18.2% in October, as the Coronavirus pandemic and lockdown measures continued to affect demand. October’s performance rounds off an “extremely tough” 10 months for UK carmakers and suppliers, with …

The United States Federal Reserve Board and the Federal Open Market Committee (FOMC) on Wednesday released the minutes of the committee meeting held on November 4-5. Policymakers have discussed in their most recent meeting potential adjustments to the asset purchase program, as shown by the minutes released on Wednesday. The …

The dollar suffered losses on Wednesday, November 25, due to progress in developing a vaccine for the Coronavirus and expectations of financial support from the new US government that led to the transfer of funds from the dollar to high-risk assets. The US currency recorded its lowest level in two …

President-elect of the United States, Joe Biden, has vowed to choose a diverse cabinet that represents all Americans. After a lot of anticipation and expectations, we are finally getting to know some of the names that he will nominate to his cabinet. Janet Yellen The first chairwoman of the US …

Riskier currencies like the Australian dollar surged on Tuesday (November 24th) after US President Donald Trump authorized the transfer of power to President-elect Joe Biden. The New Zealand dollar was one of the biggest gainers, up by 0.9%, rising to its highest level in two years at $ 0.6985, after …

The UK’s Minister of Finance, Rishi Sunak, has played down the effect of a no trade deal Brexit, in a recent interview with the Financial Times. “They may well talk, but nothing is scheduled.”“We aren’t quite at the point where leaders get involved.” Sunak did not reveal a model in …

The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that a no-deal Brexit could result in longer-term damage to the British economy compared with the Coronavirus (COVID-19) crisis, Reuters reported. “Well, I think the long-term effects … would be larger than the long-term effects of COVID,” …

The seasonally adjusted IHS Markit Flash United States Composite purchasing managers’ index (PMI) output index posted 57.9 in November, up from 56.3 in October. The rate of growth was the sharpest since March 2015, as a steep upturn in service sector activity was accompanied by an accelerated rise in manufacturing …