Economic Report

The European agreement on the long-anticipated recovery fund and budget stood out as the most important event and market mover on Tuesday. Meanwhile, the Australian Dollar was probably the top performer against major currencies today, while the Euro and the British Pound increased their gains supported by the US Dollar …

The Australian Dollar (AUD) is rising across the board against major currencies on Tuesday, as recent remarks by the Governor of the Reserve Bank of Australia (RBA) are supporting the Aussie. RBA Governor Philip Lowe said in his annual speech to the Anika Foundation that Australia has now turned the …

Forex: EUR/USD Maintains Upward TrendFX Option Expiries for July 20 NY Cut Cryptocurruncies: Bitcoin: Fails to Live up Commodities: Oil Futures Close HigherGold Prices Settle Higher and Silver Maintains GainsSilver Surges to Highest Level in Four YearsGold Rises on Increased Covid-19 Cases Stocks: Wall Street Closes Higher and Nasdaq Breaks …

Leaders of the European Union (EU) are set to reach an agreement about the COVID-19 recovery fund, which will help member countries cope with the coronavirus pandemic economic impacts. President of the EU Council, Charles Michel, was cited by Reuters earlier today as saying that he is confident of the …

The return of tensions between Washington and Beijing was the centre of attention last week, with the increase in COVID-19 cases in the United States to unprecedented numbers, along with the tensions of the American presidential elections and doubts about Trump’s ability to win the upcoming polls amid the increasing …

The University Of Michigan Survey Of Consumers showed that the consumer sentiment index declined in the first half of July due to the widespread resurgence of the coronavirus disease (COVID-19). After the index increased in June, its reading was reversed, leaving the sentiment index in early July insignificantly above the …

Economic activity in the United States increased in almost all districts, but remained well below where it was prior to the COVID-19 pandemic, according to the US Federal Reserve’s Beige Book, issued on Wednesday. “Consumer spending picked up as many nonessential businesses were allowed to reopen.” “Retail sales rose in …

A recent note by Goldman Sachs said that the United States and global economies are showing signs of recovery, based on recent reading by the purchasing managers’ indices (PMIs). After reaching readings as low as 30s in April, the indices are hovering around the 5o reading, which signals expansion in …

Markets are looking for a new direction after stocks tumbled and the dollar appreciated on Tuesday. Concerns about Covid-19 cases in the US and geopolitical tensions remain dominant. After the number of cases declined on Monday, the cases of Covid-19 increased again in the United States on Tuesday. New cases …

The US dollar index, DXY, which measures the strength of the greenback versus a basket of currencies, lost the upward trend and slid back to 97.00 levels after Wall Street’s opening bell. The US dollar index maintained gains in the 96.80 region, which is the positive zone, advanced for the …