Economic Report

The Board of Governors of the US Federal Reserve has unanimously voted to maintain interest rates during the Federal Open Market Committee (FOMC) meeting on July 29. The meeting also authorized the Fed to undertake open market operations as necessary to maintain the federal funds rate in a target range …

It was another weak day for the U.S. Dollar due to selling pressures and a decline in the Treasury Yields, but Wall Street was soaring with tech stocks making big gains and leading the S&P 500 index to finally close at a new record level, recovering all of its losses …

In the first day of the week, the dollar maintained its losses, while gold continued its rally and made its biggest daily gains since April. Meanwhile, oil finished the session higher after fluctuating amid uncertainty regarding demand outlook, while the bitcoin rose to its highest level since July 2019. Forex: …

Japan recorded its largest economic contraction in Q2 as the coronavirus pandemic crushed business and consumer spending, putting policymakers under pressure to take bolder action to prevent a deepening recession. Although the economy began to emerge from recession after easing the lockdown in late May, many analysts expect any rebound …

Optimism regarding the development of a vaccine of Covid-19 continued to dominate the markets. Also, Democratic and Republican parties failed to reach an agreement on the second stimulus and financing package of Coronavirus. The US currency suffered heavy losses during last week’s, to record a decline for the eighth consecutive …

The eurozone’s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc’s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic. The European statistics office Eurostat said …

The dollar stabilized as a jump in US Treasury yields and a drop in sentiment due to weak economic data from China put an end to the global reserve currency sell-off. Retail sales in China continued to decline for the seventh month in July unexpectedly, and industrial production missed expectations, …

Oil prices rose, and is on track to achieve gains for the second week in light of the growing confidence that demand for fuel has started to rise despite the Coronavirus pandemic that is ravaging economies around the world. Before the Tokyo Stock Exchange closed, Brent crude rose 14 cents, …

Retail sales in China fell in July, disappointing expectations for a moderate increase, as consumers in the world’s second-largest economy failed to unleash caution about the Coronavirus, while the factory sector’s recovery struggled to increase its pace. Asian markets fell today after a disappointing set of economic indicators, which raises …

According to the latest survey of businesses conducted by Germany’s influential IFO institute, the firms in Eurozone’s economic powerhouse expect business to return to normalcy in an average of 11 months from the coronavirus crisis. “For companies in the services sector, that number is even higher, at 11.7 months.” “The …