Economic Report

The Chairman of the United States Federal Reserve, Jerome Powell, expects a rise in inflation in the U.S. in the coming period, but ruled out that it will impose enough pressure to raise interest rates. “We expect that as the economy reopens and hopefully picks up, we will see inflation …

The dollar reached its highest level against the yen in 7 months today, Thursday, as it received support from a more regular rise in US Treasury yields ahead of a speech by Jerome Powell, the head of the US Federal Reserve, that may determine the direction the global currency and …

The United States Federal Reserve’s Beige Book for February 2021 showed that overall economic activity expanded modestly from January to mid-February for most districts, which reflected in improved business confidence, as most businesses remain optimistic regarding the next 6-12 months. The optimism is driven by the rollout of Coronavirus vaccines, …

Employment in the US’ private sector increased by 117,000 in February, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading fell short of the market expectation of 177,000. On a positive note, however, January’s reading got revised up to 195,000 from 174,000.

Sources in OPEC+ told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are considering extending oil production cuts from March to April instead of increasing production due to the fragility of crude markets due to continuing concerns about the Coronavirus …

The dollar, which is generally considered a safe haven, remained weak on Wednesday, March 3rd, as Treasury yields continued to decline, restoring some calm to global markets and sparking renewed demand for riskier assets. Riskier currencies, including the Australian dollar and the Norwegian kroner, held onto the two-day streak of …

The United States is debating the $1.9 trillion stimulus package, as proposed by President Joe Biden, after the House of Representatives passed the relief bill. Democrats are expected to pass the “American Rescue Plan” bill through the reconciliation option, which allows approving the bill with a simple majority without any …

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 …

Rising treasury yields continued to make the biggest effect on the market last week, amid expectations for a surge inflation due to the increased government stimulus and monetary easing policies. Treasury yields in the United States rose last week to their highest level in about a year, with the benchmark …

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 …