Economic Report

The dollar hit a 15-maonth high against the yen and hovered near a multi-month peak against other major peer currencies on Thursday, July 1, ahead of a major US jobs report that could provide clues as to when the Fed will begin to scale back stimulus. The US currency rose …

The main indices of the New York Stock Exchange (NYSE) continued to show a mostly strong performance on Wednesday, with the S&P 500 index registering its 34th record close this year, and while the Nasdaq declined and failed to continue to the record breaking activity, the Dow Jones came close …

The dollar is set to record its best monthly gain since March on Wednesday, June 30, supported by traders’ concerns ahead of hard-to-predict US jobs data and concern that the delta strain of the Coronavirus will delay the recovery from the pandemic. The dollar gained about 2.5% against a basket …

Germany’s Jens Weidmann, a member of the European Central Bank (ECB) board, believes that scaling back the massive stimulus needs to be step-by-step after reopening and achieving recovery. These are the two prerequisites for reducing the monetary easing policies, according to the governor of the Deutsche Bundesbank, who was speaking …

The health authorities in the United Kingdom announced the highest rate of infection with the Corona virus since January 30, as the authorities recorded about 22,868 new confirmed cases of the Coronavirus in just one day. This sudden rise in new cases of Coronavirus in the United Kingdom is due …

The dollar rose on Tuesday, June 29, approaching a two-month high against major currencies, with many traders largely reluctant to bet before an important US jobs report could change the timing of the Federal Reserve’s halt to stimulus programs. The dollar index, which tracks the dollar’s movement against six major …

Oil prices fell for a second session on Tuesday, June 29, on concerns about slowing growth in fuel demand, as the outbreak of the most contagious delta from Covid-19 imposes new restrictions on movement around the world. Brent crude futures were down 26 cents, or 0.4%, at $74.42 a barrel, …

Federal Reserve Bank of Richmond President Thomas Barkin believes the Fed has achieved substantial further progress toward its inflation target, signaling his view that tapering asset purchases should begin soon. “It’s pretty clear to me we have had substantial further progress against our inflation goal.” Barkin also explained that he …

The dollar was largely stabilized as global markets began to be in a state of caution at the start of the week, while currency markets’ attention turned to US jobs data due out on Friday. Some analysts attributed the lack of momentum during trading in Asia to an increase in …

It’s been an eventful week, from Powell’s testimony, BoE decision, inflation data, and PMI. Here’s a look at the highlights of the past week. Dollar Since the opening of the US session on Friday, the dollar has struggled to maintain the bullish trend after the emergence of the second consecutive …