Economic Report

Japanese stocks fell for a second session, giving up early gains, as sales to investors to take profits and rebalance positions at the end of the month overshadowed a batch of technology companies that announced positive profits. Investors are growing concerned about more market turmoil as retail frenzy boosts market …

The U.S. Congress is expected to start procedures to pass the huge stimulus package proposed by President Joe Biden next week, Reuters reported citing leaders in the Democratic party. Both Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi pointed to work on passing what the administration is calling …

The most prominent event on the US calendar today is the fourth-quarter GDP report due out at 13:30 GMT. Economists are expecting the preliminary figure to show 3.9% year-on-year growth in the October-December period, which indicates growth losing momentum by a large margin compared to the strong recovery in Q4 …

The United States Senate Majority Leader Chuck Schumer said on Tuesday that Democrats are ready to begin working to pass the new president rescue plan as early as next week without cooperation with the Republicans. The plan is being challenging by some Democrats as it will increase government debt. “In …

The Untied States Federal Reserve is highly expected to maintain interest rates unchanged during its January meeting, which concludes later on Wednesday. The two-day meeting is also expected to maintain the current pace of asset purchases. Furthermore, the Fed will surely reiterate its commitment to supporting the American economy until …

GBP/USD continued its corrective slide from several-month highs, and reached its daily low, with a target of 1.3700. After optimism about the launch of Covid 19 vaccines and hopes for a global economic recovery faded, along with doubts about the timing of the US stimulus plan, all this affected the …

The dollar rose against a basket of currencies on Wednesday, January 27th, as markets awaited comments by US Federal Reserve Chairman Jerome Powell, who is likely to renew his commitment to a super-easing policy. The dollar compensated for declines against riskier currencies, even as hopes for a pandemic recovery received …

The Governor of Rhode Island, Gina Raimondo, who has been nominated by President of the United States Joe Biden to lead the U.S. Department of Commerce, has vowed to be tough against unfair trade practices from China. Speaking in testimony in front of the U.S. Senate Commerce Committee, Raimondo said …

The Prime Minister of Italy, Giuseppe Conte, is set to resign from his post on Tuesday, his office announced on Monday. The Prime Minister is looking forward to being re-appointed by President Sergio Mattarella to form a new coalition government. The current government lost its majority in the Italian Senate …

The recovery of sentiment in global markets led to the dollar’s decline, while riskier currencies strengthened after optimism about US President Joe Biden’s plans to stimulate the effects of Covid-19 outweighed. The market sentiment appeared more cautious at the end of last week, as European economic data revealed that the …