Daily Economic Reports

The dollar held on to four-day gains against major counterpart currencies on Tuesday, as prospects for a massive fiscal stimulus pushed US yields higher. US President-elect Joe Biden, who will take office on January 20, with his Democratic Party in control of both houses of Congress, promised “trillions” of additional …

The dollar rose Monday, January 11th, with the rise in US Treasury yields and expectations of more fiscal stimulus, which pushed the US currency to rise against its competitors, while the euro fell to its lowest level in three weeks. US President-elect Joe Biden, who takes office on January 20 …

Brent crude prices fell, a dollar per barrel, on Monday, January 11, as they were affected by renewed concerns about global demand for fuel in light of strict lockdown measures aimed at combating the spread of the Coronavirus in Europe and new restrictions on movement in China, the second-largest consumer …

For the first time in eight months, the United States economy saw a decline in jobs during December, amid a new wave of the Coronavirus pandemic. Data by the U.S. Department of Labor showed on Friday that Nonfarm Payrolls (NFP) declined by 140,000 in December, according to the U.S. Bureau …

The dollar held on to its biggest gains in more than two months against the major counterpart currencies on Friday, January 8th, as high US bond yields abandoned some bets on the dollar’s decline. The US currency rebounded from its lowest level in nearly three years, while traders reaped profits …

With the tumultuous start of the new year, the US is due to publish its monthly employment report (NFP) today, Friday. The US Nonfarm Payrolls report for December is expected to show only 71,000 new jobs added, despite the unemployment rate to remain at 6.7% with an hourly wage expected …

The dollar rose on Thursday, January 7, hovering above its lowest level in nearly three years, after the Democrats won control of the US Senate, paving the way for a possible greater fiscal stimulus under President-elect Joe Biden. Currency markets were not affected much by the scenes of chaos in …

The dollar fell on Wednesday as Democrats advanced in the run-off election that will determine who will control the US Senate and could pave the way for lavish spending under the administration of President-elect Joe Biden. The euro crossed a major resistance level, reaching a 32-month high, while the US …

Saudi Arabia is reportedly proposing more output cuts during the month of February during the OPEC+ summit, Reuters reported. The Kingdom believes maintaining production curbs is essential to restoring the global oil market balance, despite an improved outlook due to the rollout of Coronavirus vaccines. This comes as worries about …

The dollar fell against a basket of major currencies on Tuesday after China raised the official exchange rate of the yuan to its highest level in 30 months, boosting demand for other currencies. The Bank of China set the official midpoint of the yuan at more than 6 per dollar …