Positive news regarding the launch the Vaccination campaign dominated the markets, but the Brexit crisis and the US financial stimulus still cast a shadow on the markets. In the UK, monthly GDP continued to slow down, falling to 0.4% in October, its lowest level in 6 months. British economic output …
Read More »A rise in Commodities Unleashes Ehe Australian Dollar, Pound Prepares Dor No-Deal Brexit
The dollar headed for a loss for the fourth week in a row as it weakened, recording its lowest levels in several years against other major currencies. The pound ended a series of gains that lasted for five weeks after the leaders of Britain and the European Union remained at …
Read More »Oil Continues to Rise on The Launch of Vaccination
Oil rose today, Friday, to consolidate strong gains made overnight that saw Brent crude exceed $50 for the first time since March, as the implementation of coronavirus vaccination programs fueled hopes that demand for oil will rebound next year. Brent crude rose 30 cents, or 0.6%, to $50.55 a barrel, …
Read More »Lagarde: Economy to Operate Normally by End of 2021
The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that the decision to extend the ECB stimulus program comes as the Eurozone is expected to achieve herd immunity from the Coronavirus, helping the economy operate normally, by the end of 2021, the Guardian reported. “We have …
Read More »ECB Maintains Rates and Expands Stimulus
The European Central Bank (ECB) has decided on Thursday to maintain interest rates unchanged, expecting its rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, its 2% target. Moreover, the ECB board decided …
Read More »Breaking: ECB Leaves Rates Unchanged, Expands PEPP by €500 Billion to End-March 2022
The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected. The ECB further announced that it decided to increase the envelope under the Pandemic Emergency Purchase Programme …
Read More »Euro Settled Ahead of Expected Stimulus From ECB, Sterling Falling
The euro stabilized Thursday, December 10, before the European Central Bank unveiled new stimulus measures, while the British pound fell after trade talks on Brexit were extended until the next few days, seeking an elusive breakthrough. European Central Bank officials have made clear in recent weeks that a larger program …
Read More »ECB Preview: Can Drag Euro Lower?
The European Central Bank faces a difficult situation as it needs to decide whether to resort to a more monetary stimulus or whether to take smaller steps to address the current risks. The euro was one of the best performing currencies, up 8% against the dollar so far while it …
Read More »BoC Maintains Interest Rates in Last Meeting of 2020
The Bank of Canada (BoC) on Wednesday maintained interest rates unchanged, as well as its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. The rebound in the global and Canadian economies has unfolded …
Read More »Britain Suspends Tariffs on US Goods to Ease a Trade Dispute
The British Ministry of Commerce said that starting from January 1, Britain will suspend customs duties imposed on US goods in a dispute over aircraft support, describing the move as an attempt to reduce the escalation of a devastating conflict in international trade. This decision is Britain’s first deviation from …
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