Economic Report

The World Health Organization (WHO) has warned that a new strain of the coronavirus has been detected in many countries across the world. Named Mu, the first case infected with the new variant was discovered in Colombia last January but has now been identified in 39 countries. It has become …

As is widely expected, OPEC stuck to the plan to raise production by 400 barrels in October. The meeting is still going on to be updated…

The Canadian economy’s performance during the second quarter of the year came against most market expectations, showing a contraction amid a drop in home sales and exporting activity. A decline in the number of coronavirus cases and lifting the lockdown and preventive measures was not enough for a strong rebound …

The dollar approached a 3-week low against a basket of currencies on Tuesday, August 31, as investors looked to this week’s US jobs data for clues about the timing of stimulus cuts. The dollar has been on the decline since US Federal Reserve Chairman Jerome Powell’s statement at Jackson Hole …

It is expected that the upcoming meeting for the Organization of the Petroleum Exporting Countries (OPEC) and its allies will decide on Wednesday to maintain the current output policy, which entails easing production cuts gradually, amid a global recovery from the pandemic. The OPEC+ previously decided to increase production by …

The dollar held near two-week lows on Monday, held in check by a message from the US Federal Reserve chairman that there is no rush to withdraw massive stimulus. The US currency’s allure took a hit since Friday, when Federal Reserve Chairman Jerome Powell said a gradual reduction of stimulus …

In his prepared remarks for delivery at the Jackson Hole Economic Symposium titled “Macroeconomic Policy in an Uneven Economy,” FOMC Chairman Jerome Powell said that there has been clear progress towards full employment and that he believes that if the US economy develops as expected, “it may be appropriate to …

As investors are closely monitoring developments in the U.S. monetary policy, the Federal Reserve is gradually preparing markets for the beginning of tapering and the move from easing towards policy normalization. The first sign was when the Fed said that it would halt purchases of corporate bonds, then a clearer …

The U.S. Federal Reserve could start cutting the monthly asset purchases this year, but would not rush raising interest rates, Chairman Jerome Powell said on Friday, in his speech to the Jackson Hole Economic Symposium. Powell explained that the American economy has made substantial further progress toward the Fed’s price …

The dollar stabilized as investors awaited a highly anticipated speech by US Federal Reserve Chairman Jerome Powell, while analysts now doubt that the central bank chief will hint at a possible date to start reducing asset purchases. The focus of the market this week is on the signals that the …