Economic Report

Britain’s public borrowing increased again in August, reaching a new record high, driven by massive spending to combat the Coronavirus pandemic, with the budget deficit since the start of the current tax year surpassing its full-year peak during the global financial crisis. The government has now borrowed 173.7 billion pounds …

The dollar settled below its recent two-month high, and riskier currencies erased some of their weekly losses, while stock markets received a boost from hopes of resuming talks on fiscal stimulus in the United States. The dollar is moving towards achieving its best weekly performance since early April, driven by …

Gold prices rose, as the dollar fell and hopes for more stimulus measures in the United States re-emerged, but the yellow metal is on the path to post its biggest weekly decline since August. Spot gold rose 0.3% to $ 1873.83 an ounce. But prices are down about 4% a …

Oil prices have retreated, and are heading towards a weekly decline due to growing concerns that fuel demand will be affected by a new large-scale rise in cases of coronavirus, as well as some concern about a possible return of exports from Libya. Brent crude fell four cents to $ …

Ireland’s Minister of Foreign Affairs and Trade, Simon Coveney, recently said that the United Kingdom (UK) is making negotiations for a new trade deal with the European Union (EU) more difficult by pushing for legislation that undermines international law. “There is a growing sense that perhaps the United Kingdom does …

Gold fell Thursday, September 24th, to its lowest level in more than two months, on dollar’s rally, while investors were concerned about the uncertainty surrounding additional stimulus measures to support the slowing economic recovery in the United States. This fell gold in immediate transactions 0.7% to 1851.51 dollars an ounce …

The IHS Markit Flash U.S. Composite PMI Output Index posted 54.4 at the end of the third quarter (Q3) of 2020, down from 54.6 in August, adjusted for seasonal factors. However, the index’s quarterly average was the highest since the opening three months of 2019. The seasonally adjusted IHS Markit …

The euro fell to its lowest level in two months, Wednesday, September 23, after positive economic data from the United States and concerns about the second wave of Coronavirus infections combined with weak European indicators to support the rise of the dollar. The US currency rose to $ 1.1671 against …

Oil prices fell by more than 1% on Wednesday, September 23, after data reported that US crude inventories rose unexpectedly, renewing concerns about fuel demand, which caused heavy selling earlier in the week. By 0641 GMT, Brent crude futures fell 33 cents, or 0.8%, to $ 41.39 a barrel. US …

There were a lot of market drivers last week like the Fed and Bank of England meeting and tensions over the Brexit talks and developments for the Corona vaccine as well as the continuing trade tension between the US and China and the TikTok crisis. There was a lot of …