Daily Economic Reports

The stock of Robinhood, the U.S.-based financial services company that pioneered commission-free trading and became famous on the back of meme trading, is witnessing a strong beginning days after its debut on Wall Street. The initial public offering of Robinhood was completed on Thursday, and the company’s stock was listed …

New Zealand and Australian dollars made the biggest gains among the major currencies on Tuesday, supported by comments from the two countries’ central banks, while the US dollar fell against the Japanese yen and the Swiss franc amid some risk aversion in the markets. The Australian dollar rose strongly after …

U.S. Treasury Secretary Janet Yellen is working to avoid default after Congress failed to extend the suspension of the debt ceiling. Yellen told Congress that the department is taking extra steps to ensure this, expressing in a written letter to lawmakers that resolving the issue would be the better choice. …

The dollar approached a one-month low on Monday at the start of a busy week with US jobs data and a decision by the Australian Central Bank. The dollar index, which measures the performance of the US currency against six major currencies, recorded 92.065, slightly down from its level on …

The main indices of the New York Stock Exchange (NYSE) finished Thursday higher, despite a weaker than expected GDP growth numbers registered in the second quarter, as Wall Street investors seemed more optimistic about the Federal Reserve vowing to maintain the low-interest rates for the time being. Accordingly, the Dow …

The dollar fell to a one-month low on Thursday after the Federal Reserve reassured that a rate hike was still a long way off, giving a major boost to most other currencies from the Australian dollar to the Chinese yuan. China’s efforts to calm stock market jitters precipitated by its …

The United States Senate voted on Wednesday on a large bipartisan infrastructure bill, at an estimated cost of around $550 billion in investments. A total of 67 Senators approved the bill, while 32 opposed, in the first procedural step to debate the proposed plan by President Joe Biden. Despite the …

The U.S. Dollar (USD) showed a fluctuating performance on Wednesday, with the markets focusing on the Federal Reserve policy decision and statement. The greenback began moving downwards in early trades in the American session, erasing most of its daily gains during the European session that also saw some fluctuations, but …

The United States Federal Reserve announced on Wednesday that it has decided to maintain interest rates unchanged at a 0% to 0.25% range, pointing to positive recovery signs by the economy despite the risks and concerns due to the coronavirus pandemic. As the Federal Reserve Open Market Committee (FOMC) concluded …

The United States Federal Reserve is holding its fifth policy meeting this year and it is expected that the discussion about the future of the massive asset purchases, as well as the increasing inflationary pressures, will take center stage in discussions amongst members of the Federal Open Market Committee (FOMC). …