Economic Report

Saudi Arabia remained the largest supplier of crude oil to China for the ninth consecutive month in July, but its shipments of crude fell 10% on a monthly basis, while shipments from Russia fell only 4%. According to data from the General Administration of Customs in China, total Saudi shipments …

The US dollar reached a 9-and-a-half month high against its counterparts on Friday, buoyed by concerns that the mutated delta strain of the Coronavirus may delay global economic recovery as central banks begin to roll back pandemic-era stimulus. While moves in the currency markets were much calmer than on Thursday …

Bitcoin was the first cryptocurrency and remains the biggest in terms of market capitalization, however, some market experts now believe that Ethereum (Ether) with its recent surge could one day overtake the number one spot. Ethereum will continue to outperform Bitcoin, said Nigel Green the head of a financial institution, …

The dollar rose to a 9-month high on Thursday, as global markets fell after the minutes of the latest US Federal Reserve meeting revealed that policymakers expect to reduce the stimulus related to the Corona pandemic period before the end of the year. The dollar index, which measures the performance …

Board members of the United States Federal Reserve are moving closer to a decision on tapering the massive asset purchases, currently at $120 billion a month, which were introduced to support economic recovery from the coronavirus pandemic. The Federal Open Market Committee (FOMC) July meeting minutes showed that most members …

At the FOMC meeting on July 28, the question about monetary policy was posed very straightforwardly; Is the US economy, especially the labor market, improving fast enough to begin discussing QE tapering? Looking at the Fed members’ statements since the last meeting of FOMC, we see that it tends to …

The dollar fell in Europe on Wednesday but remained at elevated levels as global growth concerns, caused by the ongoing outbreak of the Delta virus, prompted traders to reduce their positions on riskier currencies. At 07:55 GMT, the dollar index, which measures the greenback against a basket of six other …

The United States Treasury Secretary, Janet Yellen, remains the strongest defender of the current economic policies by the Biden administration, even among cabinet members. Given her credibility as former Chair of the Federal Reserve, and the first female to hold this post, she is repeatedly voicing her support for the …

The New Zealand dollar fell to its lowest in nearly three weeks on Tuesday, August 17, after the country detected its first case of COVID-19 since February, prompting the government to announce new, short-term public isolation measures. The currency fell significantly in the early hours of trading in Asia, and …

Boston Fed President Eric Rosengren was the latest Fed official to support the U.S. Federal Reserve Bank beginning the tapering process of the current massive asset purchases in the next federal open market committee (FOMC) meeting, which takes place in September. He thinks it is appropriate to start in the …