Daily Economic Reports

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 …

Chairman of the United States Federal Reserve, Jerome Powell, told the House of Representatives that the Fed will only raise interest rates when the economy achieves the employment and inflation targets. In his testimony to the House Financial Services Committee, Powell said that the Fed is in no hurry to …

Chairman of the United States Federal Reserve, Jerome Powell, testified on Tuesday before the Senate, telling the Senate’s Banking Committee that the economy’s recovery is still uneven and far from complete. Powell vowed to maintain the current monetary policy until the inflation target is achieved and full employment is reached. …

The United States House of Representatives is officially moving forward with steps to pass the American Rescue Plan, the $1.9 trillion Coronavirus relief package proposed by President Joe Biden. The stimulus bill was passed through the House Budget Committee with a 19-16 vote. It includes raising unemployment insurance supplement $400 …

The dollar trimmed its losses in early European trade after reaching its lowest level in several years against the pound sterling and the currencies of Australia and New Zealand, as bond yields rose in light of progress in Corona’s immunization programs and expectations of an acceleration of economic growth and …

European Central Bank data showed that the eurozone’s current account surplus widened in December due to a higher trade surplus and a larger contraction of the secondary income deficit, which includes outflows such as remittances and taxes. The 19-nation bloc, which deals in euros, recorded a current account surplus of …